ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 3,723 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 3,723 shares of ASA Gold and Precious Metals stock in a transaction on Tuesday, January 20th. The stock was acquired at an average price of $66.08 per share, for a total transaction of $246,015.84. Following the transaction, the insider directly owned 5,465,362 shares of the company’s stock, valued at approximately $361,151,120.96. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Friday, January 16th, Saba Capital Management, L.P. acquired 4,541 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $63.63 per share, for a total transaction of $288,943.83.
• On Thursday, January 15th, Saba Capital Management, L.P. acquired 4,654 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $63.35 per share, with a total value of $294,830.90.
• On Wednesday, January 14th, Saba Capital Management, L.P. bought 5,000 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $63.82 per share, with a total value of $319,100.00.
• On Tuesday, January 13th, Saba Capital Management, L.P. purchased 15,162 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $64.52 per share, for a total transaction of $978,252.24.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 9,508 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $64.19 per share, with a total value of $610,318.52.
• On Thursday, January 8th, Saba Capital Management, L.P. bought 2,479 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $60.71 per share, for a total transaction of $150,500.09.
• On Friday, January 9th, Saba Capital Management, L.P. bought 4,152 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $62.03 per share, with a total value of $257,548.56.
• On Wednesday, January 7th, Saba Capital Management, L.P. purchased 3,598 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $59.78 per share, for a total transaction of $215,088.44.
• On Tuesday, January 6th, Saba Capital Management, L.P. bought 3,280 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $61.80 per share, for a total transaction of $202,704.00.
• On Monday, January 5th, Saba Capital Management, L.P. bought 8,770 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $60.32 per share, with a total value of $529,006.40.

ASA Gold and Precious Metals Trading Up 6.3%

Shares of ASA stock opened at $71.38 on Friday. The firm has a fifty day moving average price of $57.36 and a 200 day moving average price of $46.12. ASA Gold and Precious Metals Limited has a 12 month low of $21.92 and a 12 month high of $72.04.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. purchased a new stake in ASA Gold and Precious Metals in the fourth quarter valued at approximately $307,000. DKM Wealth Management Inc. acquired a new stake in shares of ASA Gold and Precious Metals during the fourth quarter worth about $239,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ASA Gold and Precious Metals by 19.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,295 shares of the investment management company’s stock valued at $511,000 after purchasing an additional 1,326 shares in the last quarter. Noble Wealth Management PBC raised its holdings in ASA Gold and Precious Metals by 61.7% during the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock worth $4,377,000 after purchasing an additional 27,987 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of ASA Gold and Precious Metals by 64.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,199 shares of the investment management company’s stock worth $147,000 after purchasing an additional 1,257 shares in the last quarter.

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.