ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $425,866.44 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 8,002 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $53.22 per share, with a total value of $425,866.44. Following the completion of the acquisition, the insider owned 5,297,256 shares in the company, valued at approximately $281,919,964.32. The trade was a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major 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 Thursday, December 4th, Saba Capital Management, L.P. purchased 15,408 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $52.87 per share, with a total value of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. acquired 9,576 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $53.37 per share, for a total transaction of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. bought 8,078 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $52.82 per share, with a total value of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. bought 9,560 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $53.46 per share, with a total value of $511,077.60.
• On Tuesday, November 25th, Saba Capital Management, L.P. purchased 7,283 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $48.75 per share, for a total transaction of $355,046.25.
• On Friday, November 21st, Saba Capital Management, L.P. acquired 9,784 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $46.94 per share, with a total value of $459,260.96.
• On Thursday, November 20th, Saba Capital Management, L.P. acquired 27,496 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $47.41 per share, with a total value of $1,303,585.36.
• On Wednesday, November 19th, Saba Capital Management, L.P. bought 10,094 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $48.16 per share, for a total transaction of $486,127.04.
• On Tuesday, November 18th, Saba Capital Management, L.P. bought 2,268 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $47.20 per share, with a total value of $107,049.60.
• On Monday, November 17th, Saba Capital Management, L.P. bought 18,124 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $47.35 per share, for a total transaction of $858,171.40.

ASA Gold and Precious Metals Stock Down 0.9%

NYSE ASA traded down $0.48 on Monday, reaching $52.50. The company had a trading volume of 9,731 shares, compared to its average volume of 94,292. ASA Gold and Precious Metals Limited has a 1 year low of $19.37 and a 1 year high of $54.69. The firm has a 50-day moving average of $48.03 and a 200-day moving average of $39.55.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 12th. This represents a dividend yield of 12.0%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in ASA Gold and Precious Metals during the third quarter valued at approximately $55,000. JPMorgan Chase & Co. bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter valued at approximately $61,000. Savant Capital LLC acquired a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter valued at approximately $220,000. Fruth Investment Management bought a new position in ASA Gold and Precious Metals during the first quarter worth $226,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in 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 worth $229,000 after purchasing an additional 4,272 shares during the period.

About ASA Gold and Precious Metals

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.