Saba Capital Management, L.P. Acquires 21,708 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 21,708 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Friday, January 30th. The stock was bought at an average cost of $65.56 per share, with a total value of $1,423,176.48. Following the acquisition, the insider directly owned 5,566,440 shares of the company’s stock, valued at approximately $364,935,806.40. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Thursday, January 29th, Saba Capital Management, L.P. purchased 17,075 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $74.59 per share, for a total transaction of $1,273,624.25.
• On Wednesday, January 28th, Saba Capital Management, L.P. purchased 57,165 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $75.32 per share, with a total value of $4,305,667.80.
• On Tuesday, January 27th, Saba Capital Management, L.P. acquired 3,730 shares of ASA Gold and Precious Metals stock. The stock was bought 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. acquired 1,400 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $72.90 per share, for a total transaction 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 purchased at an average cost of $66.08 per share, for a total transaction of $246,015.84.
• On Friday, January 16th, Saba Capital Management, L.P. purchased 4,541 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost 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 stock was purchased at an average cost 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 purchased at an average price of $63.82 per share, with a total value 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, for a total transaction of $978,252.24.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 9,508 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $64.19 per share, for a total transaction of $610,318.52.

ASA Gold and Precious Metals Price Performance

NYSE ASA traded down $1.99 on Monday, reaching $62.55. The company’s stock had a trading volume of 69,008 shares, compared to its average volume of 149,390. ASA Gold and Precious Metals Limited has a twelve month low of $22.71 and a twelve month high of $78.21. The firm’s 50 day moving average is $60.37 and its two-hundred day moving average is $48.00.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ASA Gold and Precious Metals in the second quarter worth $231,000. Atria Wealth Solutions Inc. increased its position 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 purchasing an additional 2,350 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth about $1,213,000. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth about $61,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of ASA Gold and Precious Metals by 143.4% during the 2nd 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 last quarter.

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.