Saba Capital Management, L.P. Purchases 5,846 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

by · The Cerbat Gem

ASA Gold and Precious Metals Limited (NYSE:ASA – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 5,846 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average cost of $57.02 per share, with a total value of $333,338.92. Following the acquisition, the insider directly owned 5,342,603 shares in the company, valued at $304,635,223.06. This trade represents a 0.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Wednesday, December 17th, Saba Capital Management, L.P. acquired 12,649 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $57.49 per share, for a total transaction of $727,191.01.
  • On Monday, December 15th, Saba Capital Management, L.P. bought 7,866 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $58.10 per share, for a total transaction of $457,014.60.
  • On Friday, December 12th, Saba Capital Management, L.P. bought 13,696 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $57.85 per share, with a total value of $792,313.60.
  • On Wednesday, December 10th, Saba Capital Management, L.P. purchased 10,397 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $54.09 per share, for a total transaction of $562,373.73.
  • On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $52.40 per share, for a total transaction of $395,200.80.
  • On Friday, December 5th, Saba Capital Management, L.P. acquired 8,002 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $53.22 per share, with a total value of $425,866.44.
  • On Thursday, December 4th, Saba Capital Management, L.P. bought 15,408 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $52.87 per share, with a total value of $814,620.96.
  • On Wednesday, December 3rd, Saba Capital Management, L.P. bought 9,576 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $53.37 per share, for a total transaction of $511,071.12.
  • On Tuesday, December 2nd, Saba Capital Management, L.P. purchased 8,078 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $52.82 per share, for a total transaction of $426,679.96.
  • On Monday, December 1st, Saba Capital Management, L.P. purchased 9,560 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $53.46 per share, with a total value of $511,077.60.

ASA Gold and Precious Metals Stock Performance

Shares of NYSE:ASA opened at $58.81 on Friday. ASA Gold and Precious Metals Limited has a 12 month low of $19.70 and a 12 month high of $59.68. The company’s fifty day simple moving average is $50.03 and its 200 day simple moving average is $41.16.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASA. Sessa Capital IM L.P. lifted its position in ASA Gold and Precious Metals by 56.3% during the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company’s stock worth $31,647,000 after buying an additional 378,327 shares in the last quarter. Almitas Capital LLC bought a new stake in ASA Gold and Precious Metals during the third quarter worth about $15,359,000. Medici Capital LLC acquired a new position in ASA Gold and Precious Metals during the second quarter valued at approximately $5,238,000. Landscape Capital Management L.L.C. acquired a new position in ASA Gold and Precious Metals during the third quarter valued at approximately $6,411,000. Finally, Sprott Inc. increased its position in shares of ASA Gold and Precious Metals by 74.9% during the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company’s stock worth $8,445,000 after purchasing an additional 120,000 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, ASA Gold and Precious Metals presently has an average rating of “Buy”.

Get Our Latest Stock Analysis on ASA Gold and Precious Metals

ASA Gold and Precious Metals Company Profile

(Get Free Report)

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.

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