ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 50,560 Shares

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 50,560 shares of the stock in a transaction dated Friday, February 13th. The shares were bought at an average price of $71.50 per share, for a total transaction of $3,615,040.00. Following the transaction, the insider owned 5,903,701 shares in the company, valued at approximately $422,114,621.50. This represents a 0.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, February 12th, Saba Capital Management, L.P. acquired 83,533 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $69.69 per share, for a total transaction of $5,821,414.77.
• On Wednesday, February 11th, Saba Capital Management, L.P. bought 40,222 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $72.09 per share, with a total value of $2,899,603.98.
• On Tuesday, February 10th, Saba Capital Management, L.P. bought 62,201 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $71.10 per share, for a total transaction of $4,422,491.10.
• On Monday, February 9th, Saba Capital Management, L.P. bought 25,939 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $69.99 per share, with a total value of $1,815,470.61.
• On Friday, February 6th, Saba Capital Management, L.P. acquired 15,796 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $65.91 per share, with a total value 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 shares were purchased at an average cost of $64.31 per share, with a total value of $991,853.13.
• On Wednesday, February 4th, Saba Capital Management, L.P. bought 6,788 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $66.45 per share, for a total transaction 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 stock was 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. purchased 8,466 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $64.27 per share, for a total transaction 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 shares were bought at an average price of $65.56 per share, for a total transaction of $1,423,176.48.

ASA Gold and Precious Metals Price Performance

Shares of NYSE:ASA opened at $67.04 on Wednesday. The stock has a 50 day moving average price of $64.30 and a 200-day moving average price of $51.02. ASA Gold and Precious Metals Limited has a 52-week low of $23.93 and a 52-week high of $78.21.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 MarketBeat, ASA Gold and Precious Metals currently has an average rating of “Buy”.

Institutional Trading of ASA Gold and Precious Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Almitas Capital LLC raised its stake in ASA Gold and Precious Metals by 14.0% during the 4th quarter. Almitas Capital LLC now owns 382,139 shares of the investment management company’s stock valued at $22,802,000 after purchasing an additional 46,797 shares during the period. Blue Bell Private Wealth Management LLC increased its position in shares of ASA Gold and Precious Metals by 3.6% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 143,341 shares of the investment management company’s stock valued at $8,553,000 after purchasing an additional 4,986 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in ASA Gold and Precious Metals during the third quarter valued at $6,411,000. Private Advisor Group LLC raised its position in ASA Gold and Precious Metals by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock worth $3,854,000 after purchasing an additional 2,622 shares during the period. Finally, Noble Wealth Management PBC boosted its holdings in ASA Gold and Precious Metals by 61.7% during the 4th quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock valued at $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.