Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 9,112 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 9,112 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $59.99 per share, with a total value of $546,628.88. Following the purchase, the insider directly owned 5,391,713 shares of the company’s stock, valued at approximately $323,448,862.87. This represents a 0.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Tuesday, December 30th, Saba Capital Management, L.P. acquired 6,892 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $60.34 per share, with a total value of $415,863.28.
• On Monday, December 29th, Saba Capital Management, L.P. bought 10,111 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $58.81 per share, for a total transaction of $594,627.91.
• On Friday, December 26th, Saba Capital Management, L.P. purchased 714 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $61.92 per share, with a total value of $44,210.88.
• On Wednesday, December 24th, Saba Capital Management, L.P. purchased 467 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $60.76 per share, with a total value of $28,374.92.
• On Tuesday, December 23rd, Saba Capital Management, L.P. acquired 2,524 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $61.75 per share, for a total transaction of $155,857.00.
• On Monday, December 22nd, Saba Capital Management, L.P. acquired 2,760 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $60.85 per share, with a total value of $167,946.00.
• On Thursday, December 18th, Saba Capital Management, L.P. bought 3,881 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $57.52 per share, with a total value of $223,235.12.
• On Wednesday, December 17th, Saba Capital Management, L.P. bought 12,649 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $57.49 per share, for a total transaction of $727,191.01.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 5,846 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $57.02 per share, for a total transaction of $333,338.92.
• On Monday, December 15th, Saba Capital Management, L.P. acquired 7,866 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $58.10 per share, for a total transaction of $457,014.60.

ASA Gold and Precious Metals Stock Performance

ASA traded down $1.49 during trading on Friday, hitting $58.18. 196,978 shares of the company’s stock traded hands, compared to its average volume of 95,625. The company’s 50 day simple moving average is $52.23 and its two-hundred day simple moving average is $42.87. ASA Gold and Precious Metals Limited has a 12-month low of $20.63 and a 12-month high of $63.02.

Institutional Trading of ASA Gold and Precious Metals

Several large investors have recently modified their holdings of ASA. Zazove Associates LLC purchased a new position in ASA Gold and Precious Metals in the third quarter worth about $811,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of ASA Gold and Precious Metals in the 2nd quarter worth approximately $231,000. Sessa Capital IM L.P. boosted its holdings in shares of ASA Gold and Precious Metals by 56.3% in 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 last quarter. Medici Capital LLC bought a new stake in ASA Gold and Precious Metals during the second quarter valued at approximately $5,238,000. Finally, Wolverine Asset Management LLC bought a new stake in ASA Gold and Precious Metals during the second quarter valued at approximately $1,213,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

About ASA Gold and Precious Metals

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.