Key Points
- Saba Capital Management, L.P. purchased 2,524 shares of ASA on Dec. 23 at $61.75 for $155,857, bringing its total holding to 5,364,417 shares valued at about $331.25 million (a 0.05% increase in ownership).
- Saba has been steadily accumulating ASA through December, buying roughly 90,571 shares across multiple trades (notable buys: 15,408 on Dec. 4 and 12,649 on Dec. 17), even as ASA stock opened at $59.22 and was reported down 5.2%.
ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,524 shares of the company's stock in a transaction that occurred on Tuesday, December 23rd. The shares were acquired at an average price of $61.75 per share, for a total transaction of $155,857.00. Following the completion of the purchase, the insider owned 5,364,417 shares in the company, valued at $331,252,749.75. The trade was a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 Monday, December 22nd, Saba Capital Management, L.P. purchased 2,760 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $60.85 per share, with a total value of $167,946.00.
- On Thursday, December 18th, Saba Capital Management, L.P. purchased 3,881 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $57.52 per share, for a total transaction of $223,235.12.
- On Wednesday, December 17th, Saba Capital Management, L.P. acquired 12,649 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $57.49 per share, for a total transaction of $727,191.01.
- On Tuesday, December 16th, Saba Capital Management, L.P. bought 5,846 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $57.02 per share, with a total value of $333,338.92.
- On Monday, December 15th, Saba Capital Management, L.P. bought 7,866 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $58.10 per share, for a total transaction of $457,014.60.
- On Friday, December 12th, Saba Capital Management, L.P. purchased 13,696 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $57.85 per share, for a total transaction of $792,313.60.
- On Wednesday, December 10th, Saba Capital Management, L.P. purchased 10,397 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $54.09 per share, with a total value of $562,373.73.
- On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost 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 stock was purchased at an average cost of $53.22 per share, for a total transaction 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 shares were purchased at an average cost of $52.87 per share, with a total value of $814,620.96.
ASA Gold and Precious Metals Trading Down 5.2%
ASA Gold and Precious Metals stock opened at $59.22 on Tuesday. The business's 50-day simple moving average is $51.36 and its two-hundred day simple moving average is $42.45. ASA Gold and Precious Metals Limited has a fifty-two week low of $19.98 and a fifty-two week high of $63.02.
Institutional Trading of ASA Gold and Precious Metals
Hedge funds have recently modified their holdings of the stock. Zazove Associates LLC purchased a new position in ASA Gold and Precious Metals during the third quarter valued at approximately $811,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth approximately $231,000. Sessa Capital IM L.P. grew its stake in shares of ASA Gold and Precious Metals by 56.3% during the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock worth $31,647,000 after purchasing an additional 378,327 shares during the period. Walleye Capital LLC increased its holdings in shares of ASA Gold and Precious Metals by 43.4% during the 1st quarter. Walleye Capital LLC now owns 24,530 shares of the investment management company's stock valued at $739,000 after purchasing an additional 7,419 shares in the last quarter. Finally, Medici Capital LLC acquired a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at $5,238,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".
Read Our Latest Stock Analysis on ASA
About ASA Gold and Precious Metals
(
Get Free Report)
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.
Further Reading
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