ASA Gold and Precious Metals (NYSE:ASA) Sees Large Volume Increase on Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA) shares saw strong trading volume on Monday following insider buying activity. 201,343 shares traded hands during trading, an increase of 187% from the previous session’s volume of 70,068 shares.The stock last traded at $35.03 and had previously closed at $35.12.

Specifically, major shareholder Saba Capital Management, L.P. acquired 35,777 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $35.22 per share, with a total value of $1,260,065.94. Following the acquisition, the insider directly owned 3,358,646 shares of the company’s stock, valued at approximately $118,291,512.12. The trade was a 1.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. purchased 69,032 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $34.73 per share, for a total transaction of $2,397,481.36. Following the completion of the acquisition, the insider directly owned 3,322,869 shares of the company’s stock, valued at $115,403,240.37. This represents a 2.12% increase in their position. The disclosure for this purchase can be found here.

ASA Gold and Precious Metals Trading Up 0.3%

The company’s fifty day simple moving average is $32.85 and its 200-day simple moving average is $29.48.

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently made changes to their positions in ASA. NBC Securities Inc. lifted its stake in ASA Gold and Precious Metals by 128,600.0% in the first quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,286 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its position in ASA Gold and Precious Metals by 47.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,014 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in ASA Gold and Precious Metals in the 2nd quarter valued at $231,000. Wealthcare Advisory Partners LLC acquired a new position in ASA Gold and Precious Metals in the 1st quarter valued at $220,000. Finally, Fruth Investment Management acquired a new position in ASA Gold and Precious Metals in the 1st quarter valued at $226,000.

ASA Gold and Precious Metals Company Profile

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.