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

ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during mid-day trading on Tuesday following insider buying activity. The company traded as high as $66.39 and last traded at $66.20, with a volume of 16350 shares traded. The stock had previously closed at $63.46.

Specifically, major shareholder Saba Capital Management, L.P. purchased 4,541 shares of the business’s stock in a transaction on Friday, January 16th. The shares were purchased at an average cost of $63.63 per share, for a total transaction of $288,943.83. Following the acquisition, the insider owned 5,461,639 shares of the company’s stock, valued at approximately $347,524,089.57. This represents a 0.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 4,654 shares of ASA Gold and Precious Metals stock in a transaction on Thursday, January 15th. The stock was bought at an average price of $63.35 per share, with a total value of $294,830.90. Following the completion of the acquisition, the insider directly owned 5,457,098 shares of the company’s stock, valued at approximately $345,707,158.30. This trade represents a 0.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other news, major shareholder Saba Capital Management, L.P. bought 5,000 shares of ASA Gold and Precious Metals stock in a transaction dated Wednesday, January 14th. The stock was bought at an average cost of $63.82 per share, for a total transaction of $319,100.00. Following the purchase, the insider directly owned 5,452,444 shares in the company, valued at approximately $347,974,976.08. This represents a 0.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

ASA Gold and Precious Metals Trading Up 6.3%

The stock has a 50-day moving average price of $57.36 and a 200-day moving average price of $46.12.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ASA Gold and Precious Metals in the second quarter worth about $231,000. Atria Wealth Solutions Inc. lifted its holdings in ASA Gold and Precious Metals by 30.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company’s stock worth $320,000 after buying an additional 2,350 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter worth approximately $1,213,000. JPMorgan Chase & Co. bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter worth approximately $61,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of ASA Gold and Precious Metals by 143.4% during 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 buying 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.