Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 62,201 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 62,201 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average cost of $71.10 per share, for a total transaction of $4,422,491.10. Following the completion of the transaction, the insider owned 5,729,386 shares in the company, valued at approximately $407,359,344.60. This represents a 1.10% 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 at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, February 9th, Saba Capital Management, L.P. bought 25,939 shares of ASA Gold and Precious Metals stock. The shares were acquired 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 shares were acquired at an average cost of $65.91 per share, for a total transaction of $1,041,114.36.
• On Thursday, February 5th, Saba Capital Management, L.P. purchased 15,423 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $64.31 per share, for a total transaction 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 stock was acquired at an average cost of $66.45 per share, with a total value of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. acquired 28,333 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $66.14 per share, for a total transaction of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. bought 8,466 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $64.27 per share, with a total value 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.
• On Thursday, January 29th, Saba Capital Management, L.P. acquired 17,075 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $74.59 per share, with a total value of $1,273,624.25.
• On Wednesday, January 28th, Saba Capital Management, L.P. bought 57,165 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $75.32 per share, for a total transaction of $4,305,667.80.
• On Tuesday, January 27th, Saba Capital Management, L.P. bought 3,730 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $73.15 per share, for a total transaction of $272,849.50.

ASA Gold and Precious Metals Stock Performance

Shares of ASA traded up $0.74 during midday trading on Wednesday, hitting $72.21. 132,023 shares of the stock traded hands, compared to its average volume of 150,963. ASA Gold and Precious Metals Limited has a 1-year low of $23.93 and a 1-year high of $78.21. The business’s 50 day moving average price is $62.58 and its two-hundred day moving average price is $49.67.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. WHI TRUST Co LLC bought a new stake in ASA Gold and Precious Metals in the fourth quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of ASA Gold and Precious Metals in the 3rd quarter worth approximately $55,000. JPMorgan Chase & Co. bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter worth approximately $61,000. Farther Finance Advisors LLC acquired a new stake in ASA Gold and Precious Metals during the fourth quarter valued at approximately $95,000. Finally, AlphaStar Capital Management LLC bought a new stake in ASA Gold and Precious Metals during the fourth quarter worth approximately $217,000.

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.