Saba Capital Management, L.P. Purchases 23,813 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

Key Points

• Saba Capital Management, L.P. purchased 23,813 shares of ASA Gold and Precious Metals at an average price of $48.17 per share, increasing their ownership to 4,727,139 shares valued at approximately $227.7 million.
• ASA Gold and Precious Metals is slated to pay a $0.03 semi-annual dividend on November 19th, with an ex-dividend date of November 12th, offering a yield of 14.0%.
• Wall Street analysts maintain a "buy" rating for ASA Gold and Precious Metals, reflecting positive sentiment towards the stock's performance and potential growth.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 23,813 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Wednesday, October 8th. The shares were purchased at an average price of $48.17 per share, for a total transaction of $1,147,072.21. Following the completion of the purchase, the insider directly owned 4,727,139 shares of the company's stock, valued at $227,706,285.63. The trade was a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Tuesday, October 7th, Saba Capital Management, L.P. bought 46,649 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $46.50 per share, for a total transaction of $2,169,178.50.
• On Friday, September 19th, Saba Capital Management, L.P. bought 5,779 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $41.78 per share, for a total transaction of $241,446.62.
• On Thursday, September 18th, Saba Capital Management, L.P. bought 9,200 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $40.64 per share, for a total transaction of $373,888.00.
• On Wednesday, September 17th, Saba Capital Management, L.P. bought 16,670 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $41.30 per share, for a total transaction of $688,471.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. bought 91,385 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $41.50 per share, for a total transaction of $3,792,477.50.
• 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 price of $41.39 per share, for a total transaction of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. acquired 109,206 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price 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 bought at an average price 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 bought at an average price 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 bought at an average price of $40.06 per share, for a total transaction of $1,250,873.50.

ASA Gold and Precious Metals Price Performance

NYSE:ASA traded down $1.91 during mid-day trading on Thursday, reaching $46.70. 181,889 shares of the stock were exchanged, compared to its average volume of 91,111. The business has a fifty day moving average price of $39.14 and a 200 day moving average price of $33.71. ASA Gold and Precious Metals Limited has a 1-year low of $19.37 and a 1-year high of $49.14.

ASA Gold and Precious Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Institutional Investors Weigh In On ASA Gold and Precious Metals

Institutional investors have recently made changes to their positions in the company. NBC Securities Inc. lifted its holdings in shares of ASA Gold and Precious Metals by 128,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock valued at $38,000 after buying an additional 1,286 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter valued at about $61,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of ASA Gold and Precious Metals during the 1st quarter valued at about $220,000. Fruth Investment Management acquired a new stake in shares of ASA Gold and Precious Metals during the 1st quarter valued at about $226,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of ASA Gold and Precious Metals by 143.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock valued at $229,000 after buying an additional 4,272 shares during the last quarter.

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.

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