Key Points
- Saba Capital Management bought 10,397 shares of ASA on Dec. 10 at an average price of $54.09, a $562,373.73 purchase that raised its stake to 5,315,195 shares (a 0.20% ownership increase, valued at about $287.5M).
- The Dec. 10 trade is part of a clear accumulation pattern — Saba made multiple purchases of ASA between Nov. 19 and Dec. 10, often buying several thousand shares per day and spending hundreds of thousands to over $1.3M on individual transactions.
- ASA recently paid a semi-annual dividend of $0.03 (ex-dividend Nov. 12) implying a ~12.0% yield
ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 10,397 shares of the firm's stock in a transaction that occurred on Wednesday, December 10th. The shares were acquired at an average price of $54.09 per share, with a total value of $562,373.73. Following the purchase, the insider owned 5,315,195 shares in the company, valued at $287,498,897.55. This trade represents a 0.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The stock was 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. bought 8,002 shares of ASA Gold and Precious Metals stock. The shares were 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. purchased 15,408 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $52.87 per share, for a total transaction of $814,620.96.
- On Wednesday, December 3rd, Saba Capital Management, L.P. acquired 9,576 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $53.37 per share, with a total value of $511,071.12.
- On Tuesday, December 2nd, Saba Capital Management, L.P. acquired 8,078 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $52.82 per share, with a total value of $426,679.96.
- On Monday, December 1st, Saba Capital Management, L.P. bought 9,560 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $53.46 per share, for a total transaction of $511,077.60.
- On Tuesday, November 25th, Saba Capital Management, L.P. purchased 7,283 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $48.75 per share, with a total value of $355,046.25.
- On Friday, November 21st, Saba Capital Management, L.P. purchased 9,784 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $46.94 per share, with a total value of $459,260.96.
- On Thursday, November 20th, Saba Capital Management, L.P. acquired 27,496 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $47.41 per share, for a total transaction of $1,303,585.36.
- On Wednesday, November 19th, Saba Capital Management, L.P. acquired 10,094 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $48.16 per share, for a total transaction of $486,127.04.
ASA Gold and Precious Metals Stock Performance
ASA stock opened at $57.58 on Friday. The company has a fifty day moving average of $48.73 and a 200-day moving average of $40.09. ASA Gold and Precious Metals Limited has a one year low of $19.37 and a one year high of $57.86.
ASA Gold and Precious Metals Announces Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th were given a $0.03 dividend. The ex-dividend date was Wednesday, November 12th. This represents a yield of 12.0%.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "buy (b+)" rating on shares of ASA Gold and Precious Metals in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, ASA Gold and Precious Metals currently has an average rating of "Buy".
Get Our Latest Stock Analysis on ASA Gold and Precious Metals
Institutional Investors Weigh In On ASA Gold and Precious Metals
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter worth approximately $55,000. Integrated Wealth Concepts LLC grew its holdings in ASA Gold and Precious Metals by 4.4% in the third quarter. Integrated Wealth Concepts LLC now owns 16,110 shares of the investment management company's stock valued at $738,000 after purchasing an additional 681 shares during the last quarter. Almitas Capital LLC purchased a new position in shares of ASA Gold and Precious Metals in the third quarter valued at $15,359,000. Landscape Capital Management L.L.C. acquired a new position in shares of ASA Gold and Precious Metals during the 3rd quarter worth $6,411,000. Finally, Private Advisor Group LLC boosted its position 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 worth $3,854,000 after buying an additional 2,622 shares in the last quarter.
ASA Gold and Precious Metals Company Profile
(
Get Free Report)
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.
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