ASA Gold and Precious Metals (NYSE:ASA) Sets New 12-Month High After Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA) shares hit a new 52-week high on Tuesday after an insider bought additional shares in the company. The company traded as high as $66.39 and last traded at $66.20, with a volume of 16350 shares traded. The stock had previously closed at $63.46.

Specifically, major shareholder Saba Capital Management, L.P. bought 4,541 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was acquired at an average cost of $63.63 per share, for a total transaction of $288,943.83. Following the purchase, the insider owned 5,461,639 shares in the company, valued at approximately $347,524,089.57. This represents a 0.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. acquired 4,654 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was purchased at an average cost of $63.35 per share, with a total value of $294,830.90. Following the acquisition, the insider directly owned 5,457,098 shares of the company’s stock, valued at $345,707,158.30. This trade represents a 0.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In other news, major shareholder Saba Capital Management, L.P. purchased 5,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $63.82 per share, for a total transaction of $319,100.00. Following the purchase, the insider directly owned 5,452,444 shares in the company, valued at $347,974,976.08. This trade represents a 0.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, ASA Gold and Precious Metals has a consensus rating of “Buy”.

ASA Gold and Precious Metals Stock Performance

The firm has a 50 day moving average of $56.91 and a 200-day moving average of $45.94.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Almitas Capital LLC purchased a new stake in ASA Gold and Precious Metals during the third quarter valued at $15,359,000. Landscape Capital Management L.L.C. bought a new stake in shares of ASA Gold and Precious Metals in the 3rd quarter worth about $6,411,000. Blue Bell Private Wealth Management LLC raised its position in shares of ASA Gold and Precious Metals by 9.3% during 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 buying an additional 11,808 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of 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 valued at $3,854,000 after acquiring an additional 2,622 shares during the last quarter. Finally, Noble Wealth Management PBC grew its position in ASA Gold and Precious Metals by 61.7% in 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 in 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.