Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $272,849.50 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 3,730 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average cost of $73.15 per share, with a total value of $272,849.50. Following the purchase, the insider directly owned 5,470,492 shares of the company’s stock, valued at approximately $400,166,489.80. The trade was a 0.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares 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, 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 price of $75.32 per share, for a total transaction of $4,305,667.80.
• On Monday, January 26th, Saba Capital Management, L.P. bought 1,400 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. acquired 3,723 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $66.08 per share, with a total value 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, for a total transaction 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 acquired 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. bought 5,000 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price 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 stock was acquired at an average price of $64.52 per share, with a total value 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 cost 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 acquired at an average price of $60.71 per share, for a total transaction of $150,500.09.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 4,152 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $62.03 per share, with a total value of $257,548.56.

ASA Gold and Precious Metals Trading Down 11.4%

NYSE:ASA opened at $63.82 on Friday. ASA Gold and Precious Metals Limited has a twelve month low of $22.71 and a twelve month high of $78.21. The company has a fifty day moving average of $60.37 and a 200-day moving average of $47.89.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several hedge funds have recently added to or reduced their stakes in ASA. Almitas Capital LLC acquired a new position in shares of ASA Gold and Precious Metals in the third quarter valued at $15,359,000. Landscape Capital Management L.L.C. acquired a new position in ASA Gold and Precious Metals in the 3rd quarter valued at about $6,411,000. Blue Bell Private Wealth Management LLC raised its holdings in ASA Gold and Precious Metals by 9.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 138,355 shares of the investment management company’s stock valued at $6,337,000 after acquiring an additional 11,808 shares during the period. Private Advisor Group LLC lifted its position in ASA Gold and Precious Metals by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock worth $3,854,000 after acquiring an additional 2,622 shares during the last quarter. Finally, Noble Wealth Management PBC boosted its holdings in shares of 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.

Wall Street Analysts Forecast Growth

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

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.