Saba Capital Management, L.P. Acquires 91,385 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

Key Points

• Saba Capital Management, L.P. acquired 91,385 shares of ASA Gold and Precious Metals stock at an average price of $41.50 per share, totaling approximately $3.79 million, increasing their holdings to over 4.62 million shares valued at around $191.94 million.
• In addition to the latest acquisition, Saba Capital Management engaged in multiple transactions on preceding days, cumulatively increasing their stake in ASA Gold and Precious Metals significantly within a short period.
• As of September 17, ASA Gold and Precious Metals shares increased by 1.5%, trading at $41.53, with notable trading volume and a substantial price increase from its 12-month low of $19.37.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 91,385 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average price of $41.50 per share, with a total value of $3,792,477.50. Following the purchase, the insider owned 4,625,028 shares of the company's stock, valued at $191,938,662. The trade was a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, September 18th, Saba Capital Management, L.P. acquired 9,200 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $40.64 per share, with a total value of $373,888.00.
• On Wednesday, September 17th, Saba Capital Management, L.P. acquired 16,670 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $41.30 per share, with a total value of $688,471.00.
• On Monday, September 15th, Saba Capital Management, L.P. bought 17,256 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $41.39 per share, for a total transaction of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. bought 109,206 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $40.91 per share, for a total transaction of $4,467,617.46.
• On Thursday, September 11th, Saba Capital Management, L.P. acquired 96,286 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $40.40 per share, for a total transaction of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $40.34 per share, for a total transaction of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. acquired 31,225 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $40.06 per share, for a total transaction of $1,250,873.50.
• On Monday, September 8th, Saba Capital Management, L.P. acquired 24,510 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $40.50 per share, for a total transaction of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. bought 30,460 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $38.88 per share, for a total transaction of $1,184,284.80.
• On Tuesday, September 2nd, Saba Capital Management, L.P. bought 70,108 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $38.64 per share, for a total transaction of $2,708,973.12.

ASA Gold and Precious Metals Stock Up 3.4%

ASA Gold and Precious Metals stock traded up $1.38 during trading hours on Friday, hitting $42.35. The stock had a trading volume of 109,580 shares, compared to its average volume of 166,519. ASA Gold and Precious Metals Limited has a 1-year low of $19.37 and a 1-year high of $42.57. The stock's fifty day moving average is $35.87 and its two-hundred day moving average is $32.09.

ASA Gold and Precious Metals Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 14.0%.

Institutional Trading of ASA Gold and Precious Metals

Large investors have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC acquired a new stake in shares of ASA Gold and Precious Metals during the first quarter valued at $220,000. Atria Wealth Solutions Inc. purchased a new position in ASA Gold and Precious Metals during the first quarter worth about $235,000. Cetera Investment Advisers lifted its position in ASA Gold and Precious Metals by 223.9% during the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after buying an additional 130,547 shares during the period. Private Advisor Group LLC lifted its position in ASA Gold and Precious Metals by 57.7% during the first quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company's stock worth $2,473,000 after buying an additional 30,024 shares during the period. Finally, Sessa Capital IM L.P. lifted its position in ASA Gold and Precious Metals by 56.3% during the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock worth $31,647,000 after buying an additional 378,327 shares during the period.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.