Saba Capital Management, L.P. Acquires 50,560 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 50,560 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average price of $71.50 per share, for a total transaction of $3,615,040.00. Following the completion of the acquisition, the insider owned 5,903,701 shares in the company, valued at $422,114,621.50. The trade was a 0.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Thursday, February 12th, Saba Capital Management, L.P. purchased 83,533 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $69.69 per share, with a total value of $5,821,414.77.
• On Wednesday, February 11th, Saba Capital Management, L.P. bought 40,222 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $72.09 per share, with a total value of $2,899,603.98.
• On Tuesday, February 10th, Saba Capital Management, L.P. acquired 62,201 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $71.10 per share, with a total value of $4,422,491.10.
• On Monday, February 9th, Saba Capital Management, L.P. purchased 25,939 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $69.99 per share, with a total value of $1,815,470.61.
• On Friday, February 6th, Saba Capital Management, L.P. bought 15,796 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $65.91 per share, with a total value of $1,041,114.36.
• On Thursday, February 5th, Saba Capital Management, L.P. acquired 15,423 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $64.31 per share, with a total value of $991,853.13.
• On Wednesday, February 4th, Saba Capital Management, L.P. purchased 6,788 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $66.45 per share, with a total value of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. bought 28,333 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $66.14 per share, with a total value of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. acquired 8,466 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $64.27 per share, for a total transaction of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. purchased 21,708 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $65.56 per share, for a total transaction of $1,423,176.48.

ASA Gold and Precious Metals Price Performance

Shares of NYSE ASA opened at $69.50 on Thursday. ASA Gold and Precious Metals Limited has a 52-week low of $23.93 and a 52-week high of $78.21. The business’s 50 day moving average is $64.59 and its two-hundred day moving average is $51.15.

Institutional Trading of ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. increased its position in ASA Gold and Precious Metals by 15.8% during the fourth quarter. Saba Capital Management L.P. now owns 5,391,713 shares of the investment management company’s stock worth $321,724,000 after buying an additional 735,036 shares during the period. Almitas Capital LLC lifted its stake in shares of ASA Gold and Precious Metals by 14.0% in the 4th quarter. Almitas Capital LLC now owns 382,139 shares of the investment management company’s stock worth $22,802,000 after acquiring an additional 46,797 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in ASA Gold and Precious Metals by 3.6% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 143,341 shares of the investment management company’s stock valued at $8,553,000 after purchasing an additional 4,986 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in ASA Gold and Precious Metals during the third quarter worth $6,411,000. Finally, Private Advisor Group LLC increased its holdings in shares of ASA Gold and Precious Metals by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock valued at $3,854,000 after purchasing an additional 2,622 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

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.