Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $1,147,072.21 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 23,813 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were bought at an average cost of $48.17 per share, with a total value of $1,147,072.21. Following the completion of the acquisition, the insider directly owned 4,727,139 shares in the company, valued at approximately $227,706,285.63. This represents a 0.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, October 7th, Saba Capital Management, L.P. bought 46,649 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $46.50 per share, for a total transaction of $2,169,178.50.
• On Friday, September 19th, Saba Capital Management, L.P. acquired 5,779 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $41.78 per share, for a total transaction of $241,446.62.
• On Thursday, September 18th, Saba Capital Management, L.P. acquired 9,200 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $40.64 per share, for a total transaction of $373,888.00.
• On Wednesday, September 17th, Saba Capital Management, L.P. bought 16,670 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $41.30 per share, for a total transaction of $688,471.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. bought 91,385 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $41.50 per share, for a total transaction of $3,792,477.50.
• On Monday, September 15th, Saba Capital Management, L.P. purchased 17,256 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $41.39 per share, with a total value of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. purchased 109,206 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $40.91 per share, with a total value of $4,467,617.46.
• On Thursday, September 11th, Saba Capital Management, L.P. bought 96,286 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $40.40 per share, with a total value of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $40.34 per share, for a total transaction of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. acquired 31,225 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $40.06 per share, with a total value of $1,250,873.50.

ASA Gold and Precious Metals Trading Up 0.6%

ASA stock opened at $46.77 on Friday. The firm has a 50 day moving average price of $39.76 and a 200-day moving average price of $34.01. ASA Gold and Precious Metals Limited has a 52-week low of $19.37 and a 52-week high of $49.14.

ASA Gold and Precious Metals Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 14.0%.

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 Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASA. NBC Securities Inc. lifted its stake in shares of ASA Gold and Precious Metals by 128,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company’s stock valued at $38,000 after buying an additional 1,286 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in ASA Gold and Precious Metals in the 2nd quarter worth $61,000. Wealthcare Advisory Partners LLC purchased a new stake in ASA Gold and Precious Metals in the 1st quarter worth $220,000. Fruth Investment Management purchased a new stake in ASA Gold and Precious Metals in the 1st quarter worth $226,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in ASA Gold and Precious Metals by 143.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after purchasing an additional 4,272 shares in the last quarter.

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.