Key Points
- Saba Capital Management bought 50,560 shares of ASA on Feb 13 at an average price of $71.50 for $3.615M, raising its stake to 5,903,701 shares valued at about $422.1M (a 0.86% increase).
- Between Jan. 30 and Feb. 13 Saba executed a buying spree of roughly 358,969 shares in ASA, spending about $24.9 million in aggregate, indicating notable accumulation.
ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 50,560 shares of the company's stock in a transaction dated Friday, February 13th. The shares were acquired at an average price of $71.50 per share, for a total transaction of $3,615,040.00. Following the completion of the purchase, the insider owned 5,903,701 shares of the company's stock, valued at approximately $422,114,621.50. This represents a 0.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Thursday, February 12th, Saba Capital Management, L.P. acquired 83,533 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $69.69 per share, with a total value of $5,821,414.77.
- On Wednesday, February 11th, Saba Capital Management, L.P. bought 40,222 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $72.09 per share, with a total value of $2,899,603.98.
- On Tuesday, February 10th, Saba Capital Management, L.P. bought 62,201 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $71.10 per share, with a total value of $4,422,491.10.
- On Monday, February 9th, Saba Capital Management, L.P. acquired 25,939 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $69.99 per share, with a total value of $1,815,470.61.
- On Friday, February 6th, Saba Capital Management, L.P. purchased 15,796 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $65.91 per share, with a total value of $1,041,114.36.
- On Thursday, February 5th, Saba Capital Management, L.P. bought 15,423 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $64.31 per share, for a total transaction of $991,853.13.
- On Wednesday, February 4th, Saba Capital Management, L.P. bought 6,788 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $66.45 per share, for a total transaction of $451,062.60.
- On Tuesday, February 3rd, Saba Capital Management, L.P. acquired 28,333 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $66.14 per share, with a total value of $1,873,944.62.
- On Monday, February 2nd, Saba Capital Management, L.P. acquired 8,466 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $64.27 per share, with a total value of $544,109.82.
- On Friday, January 30th, Saba Capital Management, L.P. bought 21,708 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $65.56 per share, with a total value of $1,423,176.48.
ASA Gold and Precious Metals Stock Performance
Shares of ASA opened at $67.04 on Wednesday. ASA Gold and Precious Metals Limited has a 52 week low of $23.93 and a 52 week high of $78.21. The stock's 50-day moving average price is $64.30 and its 200-day moving average price is $51.02.
Institutional Investors Weigh In On ASA Gold and Precious Metals
Hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. raised its position in ASA Gold and Precious Metals by 30.1% in the second quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company's stock valued at $320,000 after purchasing an additional 2,350 shares during the period. Wolverine Asset Management LLC acquired a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $1,213,000. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter valued at approximately $61,000. Steward Partners Investment Advisory LLC raised its stake in ASA Gold and Precious Metals by 143.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock valued at $229,000 after buying an additional 4,272 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of ASA Gold and Precious Metals by 3,057.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company's stock worth $1,000,000 after acquiring an additional 30,570 shares in the last quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".
Read Our Latest Research Report on ASA
ASA Gold and Precious Metals Company Profile
(
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.
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