Saba Capital Management, L.P. Purchases 8,782 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. bought 8,782 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were bought at an average price of $58.93 per share, with a total value of $517,523.26. Following the completion of the purchase, the insider owned 5,400,495 shares in the company, valued at approximately $318,251,170.35. The trade was a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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 Wednesday, December 31st, Saba Capital Management, L.P. purchased 9,112 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $59.99 per share, for a total transaction of $546,628.88.
• On Tuesday, December 30th, Saba Capital Management, L.P. acquired 6,892 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $60.34 per share, with a total value of $415,863.28.
• On Monday, December 29th, Saba Capital Management, L.P. acquired 10,111 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $58.81 per share, with a total value of $594,627.91.
• On Friday, December 26th, Saba Capital Management, L.P. bought 714 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $61.92 per share, for a total transaction of $44,210.88.
• On Wednesday, December 24th, Saba Capital Management, L.P. purchased 467 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $60.76 per share, with a total value of $28,374.92.
• On Tuesday, December 23rd, Saba Capital Management, L.P. purchased 2,524 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $61.75 per share, with a total value of $155,857.00.
• On Monday, December 22nd, Saba Capital Management, L.P. acquired 2,760 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $60.85 per share, for a total transaction of $167,946.00.
• On Thursday, December 18th, Saba Capital Management, L.P. bought 3,881 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $57.52 per share, with a total value of $223,235.12.
• On Wednesday, December 17th, Saba Capital Management, L.P. purchased 12,649 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $57.49 per share, for a total transaction of $727,191.01.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 5,846 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $57.02 per share, for a total transaction of $333,338.92.

ASA Gold and Precious Metals Stock Performance

NYSE:ASA traded up $2.47 during mid-day trading on Monday, hitting $60.72. 40,705 shares of the company traded hands, compared to its average volume of 116,247. The stock’s fifty day moving average price is $52.48 and its 200-day moving average price is $43.18. ASA Gold and Precious Metals Limited has a one year low of $20.63 and a one year high of $63.02.

Institutional Investors Weigh In On ASA Gold and Precious Metals

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

Analysts Set New Price Targets

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

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.