On October 26, 2023, Saba Capital Management, L.P. (Trades, Portfolio) added 13,005 shares of ASA Gold And Precious Metals Ltd (ASA, Financial) to its portfolio. The transaction was executed at a trade price of $13.54 per share, bringing the firm's total holdings in ASA to 2,052,209 shares. This acquisition represents a 0.64% change in shares and has a 0.72% impact on the guru's portfolio. The firm now holds a 10.64% stake in ASA.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a firm that manages a portfolio of 624 stocks. The firm's top holdings include Templeton Global Income Fund(GIM, Financial), BlackRock Capital Allocation Trust(BCAT, Financial), BlackRock Health Sciences Trust II(BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial). The firm's equity stands at $3.84 billion, with a strong focus on the Financial Services and Technology sectors.
ASA Gold And Precious Metals Ltd Overview
ASA Gold And Precious Metals Ltd (ASA, Financial) is a USA-based company that was listed on December 8, 1958. The company operates as a closed-end, non-diversified investment company, primarily investing in companies engaged in the exploration for, development of projects, or mining of precious metals and minerals. The company's market cap stands at $265.815 million, with a current stock price of $13.78. The company's PE percentage is currently not applicable as the company is at a loss. The GF Value of the stock is also not applicable, indicating that the stock's valuation cannot be evaluated.
Performance and Financial Health of ASA
Since its IPO, ASA has seen a 6% increase in its stock price. However, the year-to-date performance shows a decrease of 6.39%. The company's GF Score is 45/100, indicating a poor future performance potential. The company's Financial Strength is ranked 8/10, while its Profitability Rank is 3/10. The Growth Rank and GF Value Rank are both not applicable due to insufficient data. The company's Momentum Rank is 7/10, indicating a moderate upward trend.
Momentum of ASA
The company's RSI 5 Day stands at 61.12, RSI 9 Day at 56.91, and RSI 14 Day at 52.23. The Momentum Index 6 - 1 Month is -20.04, while the Momentum Index 12 - 1 Month is 7.59. The RSI 14 Day Rank and Momentum Index 6 - 1 Month Rank are 1547 and 1541 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ASA shares represents a significant addition to its portfolio. Despite ASA's current financial performance and growth potential, the firm's increased stake could indicate a long-term investment strategy. Value investors may want to keep an eye on this transaction and its potential implications for the stock's future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
