Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $4,305,667.80 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 57,165 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was acquired at an average price of $75.32 per share, with a total value of $4,305,667.80. Following the purchase, the insider owned 5,527,657 shares of the company’s stock, valued at approximately $416,343,125.24. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% 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, January 27th, Saba Capital Management, L.P. purchased 3,730 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $73.15 per share, with a total value of $272,849.50.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,400 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $72.90 per share, with a total value of $102,060.00.
• On Tuesday, January 20th, Saba Capital Management, L.P. bought 3,723 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $66.08 per share, with a total value of $246,015.84.
• On Friday, January 16th, Saba Capital Management, L.P. bought 4,541 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $63.63 per share, with a total value 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 purchased at an average price of $63.35 per share, for a total transaction of $294,830.90.
• On Wednesday, January 14th, Saba Capital Management, L.P. acquired 5,000 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $63.82 per share, for a total transaction of $319,100.00.
• On Tuesday, January 13th, Saba Capital Management, L.P. bought 15,162 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $64.52 per share, with a total value of $978,252.24.
• On Monday, January 12th, Saba Capital Management, L.P. bought 9,508 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $64.19 per share, for a total transaction of $610,318.52.
• On Thursday, January 8th, Saba Capital Management, L.P. purchased 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. purchased 4,152 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $62.03 per share, for a total transaction of $257,548.56.

ASA Gold and Precious Metals Trading Down 4.6%

ASA stock traded down $3.50 during midday trading on Thursday, reaching $72.73. 119,220 shares of the company were exchanged, compared to its average volume of 138,599. ASA Gold and Precious Metals Limited has a one year low of $22.71 and a one year high of $78.21. The business has a 50-day moving average price of $59.50 and a two-hundred day moving average price of $47.40.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASA. Almitas Capital LLC purchased a new stake in ASA Gold and Precious Metals in the 3rd quarter valued at $15,359,000. Landscape Capital Management L.L.C. bought a new stake in ASA Gold and Precious Metals in the 3rd quarter worth about $6,411,000. Wolverine Asset Management LLC purchased a new stake in ASA Gold and Precious Metals in the 2nd quarter valued at about $1,213,000. Laurel Wealth Advisors LLC boosted its stake in shares of ASA Gold and Precious Metals by 3,057.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company’s stock worth $1,000,000 after buying an additional 30,570 shares during the last quarter. Finally, Noble Wealth Management PBC lifted 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 acquiring an additional 27,987 shares during the period.

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.