Saba Capital Management, L.P. Acquires 24,510 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

Key Points

• Saba Capital Management, L.P. purchased 24,510 shares of ASA Gold and Precious Metals at an average price of $40.50 per share, increasing their ownership by 0.58%.
• The stock of ASA Gold and Precious Metals is currently down 1.2%, trading at $39.99, following a recent fifty-two week high of $40.97.
• Institutional interest in ASA has grown, with notable investments from firms like NBC Securities Inc., which increased its stake by 128,600% in the first quarter.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 24,510 shares of ASA Gold and Precious Metals stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of $40.50 per share, with a total value of $992,655.00. Following the completion of the acquisition, the insider directly owned 4,260,544 shares in the company, valued at approximately $172,552,032. The trade was a 0.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 10th, Saba Capital Management, L.P. bought 19,126 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $40.34 per share, with a total value of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. bought 31,225 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $40.06 per share, with a total value of $1,250,873.50.
• 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, with a total value 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, with a total value of $2,708,973.12.
• On Monday, August 25th, Saba Capital Management, L.P. bought 7,520 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $36.51 per share, with a total value of $274,555.20.
• On Friday, August 22nd, Saba Capital Management, L.P. bought 4,620 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.97 per share, with a total value of $166,181.40.
• On Thursday, August 21st, Saba Capital Management, L.P. bought 610 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.05 per share, with a total value of $21,380.50.
• On Tuesday, August 19th, Saba Capital Management, L.P. bought 9,943 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $33.99 per share, with a total value of $337,962.57.
• On Monday, August 18th, Saba Capital Management, L.P. purchased 1,600 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $34.46 per share, for a total transaction of $55,136.00.
• On Friday, August 15th, Saba Capital Management, L.P. purchased 10,000 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $34.53 per share, for a total transaction of $345,300.00.

ASA Gold and Precious Metals Stock Performance

ASA stock traded up $0.19 during trading on Friday, hitting $40.90. The company had a trading volume of 233,408 shares, compared to its average volume of 143,563. ASA Gold and Precious Metals Limited has a 1-year low of $19.37 and a 1-year high of $41.50. The firm has a 50-day moving average price of $34.95 and a 200-day moving average price of $31.47.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several institutional investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. increased its position in ASA Gold and Precious Metals by 56.3% in the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock valued at $31,647,000 after acquiring an additional 378,327 shares during the period. Sprott Inc. increased its position in ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after acquiring an additional 120,000 shares during the period. Cetera Investment Advisers increased its position in ASA Gold and Precious Metals by 223.9% in the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after acquiring an additional 130,547 shares during the period. Medici Capital LLC acquired a new position in ASA Gold and Precious Metals in the 2nd quarter valued at about $5,238,000. Finally, Blue Bell Private Wealth Management LLC increased its position in ASA Gold and Precious Metals by 3.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock valued at $3,504,000 after acquiring an additional 3,345 shares during the period.

ASA Gold and Precious Metals Company Profile

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.