ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $490,025.04 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 10,286 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average cost of $47.64 per share, for a total transaction of $490,025.04. Following the completion of the purchase, the insider directly owned 5,180,792 shares of the company’s stock, valued at $246,812,930.88. The trade was a 0.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, November 10th, Saba Capital Management, L.P. bought 3,994 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $48.35 per share, with a total value of $193,109.90.
• On Wednesday, November 5th, Saba Capital Management, L.P. bought 928 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $44.68 per share, for a total transaction of $41,463.04.
• On Tuesday, November 4th, Saba Capital Management, L.P. purchased 20,070 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $44.49 per share, for a total transaction of $892,914.30.
• On Monday, November 3rd, Saba Capital Management, L.P. purchased 26,152 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $46.21 per share, with a total value of $1,208,483.92.
• On Friday, October 31st, Saba Capital Management, L.P. acquired 15,847 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $46.10 per share, with a total value of $730,546.70.
• On Thursday, October 30th, Saba Capital Management, L.P. acquired 1,700 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $45.61 per share, for a total transaction of $77,537.00.
• On Wednesday, October 29th, Saba Capital Management, L.P. bought 9,128 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $45.32 per share, for a total transaction of $413,680.96.
• On Tuesday, October 28th, Saba Capital Management, L.P. bought 12,847 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $45.32 per share, with a total value of $582,226.04.
• On Monday, October 27th, Saba Capital Management, L.P. purchased 28,500 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $44.08 per share, for a total transaction of $1,256,280.00.
• On Friday, October 24th, Saba Capital Management, L.P. purchased 22,335 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $45.97 per share, for a total transaction of $1,026,739.95.

ASA Gold and Precious Metals Trading Down 1.5%

ASA stock opened at $47.89 on Friday. The company has a 50 day simple moving average of $45.52 and a 200 day simple moving average of $37.26. ASA Gold and Precious Metals Limited has a 1 year low of $19.37 and a 1 year high of $53.76.

ASA Gold and Precious Metals Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a $0.03 dividend. This represents a dividend yield of 12.0%. The ex-dividend date is Wednesday, November 12th.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds have recently modified their holdings of ASA. Sessa Capital IM L.P. increased its holdings in ASA Gold and Precious Metals by 56.3% in the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company’s stock valued at $31,647,000 after purchasing an additional 378,327 shares during the period. Sprott Inc. lifted its holdings in 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 buying an additional 120,000 shares during the period. Cetera Investment Advisers grew its position in shares of ASA Gold and Precious Metals by 223.9% in the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company’s stock valued at $5,692,000 after buying an additional 130,547 shares during the last quarter. Medici Capital LLC acquired a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at about $5,238,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of ASA Gold and Precious Metals in the third quarter valued at about $6,411,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.