ASA Gold and Precious Metals (NYSE:ASA) Reaches New 12-Month High Following Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA)’s share price hit a new 52-week high during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $59.27 and last traded at $59.2160, with a volume of 47055 shares trading hands. The stock had previously closed at $57.36.

Specifically, major shareholder Saba Capital Management, L.P. bought 12,649 shares of ASA Gold and Precious Metals stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $57.49 per share, with a total value of $727,191.01. Following the completion of the acquisition, the insider directly owned 5,355,252 shares of the company’s stock, valued at $307,873,437.48. The trade was a 0.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Saba Capital Management, L.P. purchased 5,846 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average price of $57.02 per share, with a total value of $333,338.92. Following the completion of the transaction, the insider directly owned 5,342,603 shares of the company’s stock, valued at $304,635,223.06. This represents a 0.11% increase in their position. The disclosure for this purchase is available in the SEC filing. In other news, major shareholder Saba Capital Management, L.P. acquired 7,866 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were bought at an average price of $58.10 per share, for a total transaction of $457,014.60. Following the acquisition, the insider owned 5,336,757 shares of the company’s stock, valued at approximately $310,065,581.70. This trade represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, ASA Gold and Precious Metals currently has an average rating of “Buy”.

ASA Gold and Precious Metals Price Performance

The company’s 50 day simple moving average is $49.79 and its 200 day simple moving average is $40.99.

Institutional Trading of ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in shares of ASA Gold and Precious Metals in the third quarter valued at about $55,000. JPMorgan Chase & Co. acquired a new position in ASA Gold and Precious Metals in the 2nd quarter valued at about $61,000. Savant Capital LLC purchased a new stake in ASA Gold and Precious Metals during the 3rd quarter valued at approximately $220,000. Fruth Investment Management purchased a new position in shares of ASA Gold and Precious Metals in the 1st quarter valued at approximately $226,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of ASA Gold and Precious Metals by 143.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock valued at $229,000 after purchasing an additional 4,272 shares during the period.

ASA Gold and Precious Metals Company Profile

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.