Saba Capital Management L.P. Has $366.21 Million Stock Position in ASA Gold and Precious Metals Limited $ASA

Saba Capital Management L.P. lifted its holdings in ASA Gold and Precious Metals Limited (NYSE:ASA) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,903,701 shares of the investment management company’s stock after purchasing an additional 511,988 shares during the quarter. ASA Gold and Precious Metals accounts for approximately 10.1% of Saba Capital Management L.P.’s holdings, making the stock its largest position. Saba Capital Management L.P. owned approximately 0.31% of ASA Gold and Precious Metals worth $366,207,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Group One Trading LLC bought a new stake in shares of ASA Gold and Precious Metals during the first quarter valued at about $50,000. Lido Advisors LLC acquired a new stake in ASA Gold and Precious Metals in the first quarter worth about $204,000. Quantedge Capital Pte Ltd grew its position in ASA Gold and Precious Metals by 580.7% in the 1st quarter. Quantedge Capital Pte Ltd now owns 27,547 shares of the investment management company’s stock valued at $1,709,000 after buying an additional 23,500 shares in the last quarter. Sanctuary Advisors LLC bought a new position in ASA Gold and Precious Metals in the 1st quarter valued at about $201,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in ASA Gold and Precious Metals during the 1st quarter valued at about $261,000.

ASA Gold and Precious Metals Stock Performance

ASA opened at $51.14 on Tuesday. The business has a 50 day moving average price of $55.81 and a two-hundred day moving average price of $63.35. ASA Gold and Precious Metals Limited has a 1-year low of $30.95 and a 1-year high of $83.20.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of ASA Gold and Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently 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.