ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $3,889,954.40 in Stock

Key Points

• Saba Capital Management, L.P. acquired 96,286 shares of ASA Gold and Precious Metals at an average price of $40.40 per share, increasing its total holdings to 4,407,181 shares valued at approximately $178 million.
• The recent stock trading activity indicates a consistent investment trend by Saba Capital, with multiple acquisitions occurring within a week, raising their position significantly.
• ASA Gold and Precious Metals stock has seen a trading volume of 254,961 shares, with a current price of $41.50, despite lows of $19.37 and highs of $41.89 in the past twelve months.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 96,286 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $40.40 per share, for a total transaction of $3,889,954.40. Following the transaction, the insider directly owned 4,407,181 shares in the company, valued at $178,050,112.40. The trade was a 2.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 shares were purchased 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. acquired 16,670 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. acquired 91,385 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. acquired 17,256 shares of ASA Gold and Precious Metals stock. The shares were purchased 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 purchased at an average price of $40.91 per share, for a total transaction of $4,467,617.46.
• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The shares were purchased 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 purchased at an average price 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 purchased at an average price of $40.50 per share, for a total transaction of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. acquired 30,460 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $38.88 per share, for a total transaction of $1,184,284.80.
• On Tuesday, September 2nd, Saba Capital Management, L.P. purchased 70,108 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $38.64 per share, for a total transaction of $2,708,973.12.

ASA Gold and Precious Metals Trading Up 3.4%

Shares of NYSE ASA traded up $1.38 during trading on Friday, reaching $42.35. The company had a trading volume of 109,580 shares, compared to its average volume of 166,519. The company's fifty day moving average price is $35.87 and its 200-day moving average price is $32.05. ASA Gold and Precious Metals Limited has a 12 month low of $19.37 and a 12 month high of $42.57.

ASA Gold and Precious Metals Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a $0.03 dividend. This represents a dividend yield of 14.0%. The ex-dividend date is Wednesday, November 12th.

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently made changes to their positions in the stock. Sessa Capital IM L.P. grew its position in shares of 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 buying an additional 378,327 shares during the last quarter. Sprott Inc. grew its position in shares of 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 buying an additional 120,000 shares during the last quarter. Cetera Investment Advisers grew its position in shares of 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 buying an additional 130,547 shares during the last quarter. Medici Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter valued at about $5,238,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in shares of ASA Gold and Precious Metals by 3.0% during 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 purchasing an additional 3,345 shares in 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.