On November 6, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 213,0412 shares of ASA Gold And Precious Metals Ltd (ASA, Financial) to its portfolio. The transaction, which saw a trade change of 3.78 and a share change of 77,669, had a minor impact of 0.03 on the firm's portfolio. The shares were acquired at a price of $13.75 each, bringing the firm's total holdings in ASA to 11.04% of its portfolio.
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 an investment firm with a diverse portfolio. 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, closed-end, non-diversified investment company. The company, which went public on December 8, 1958, primarily invests in companies engaged in the exploration, development, or mining of precious metals and minerals. With a market capitalization of $263.693 million, ASA operates in a single segment. The company's current stock price is $13.67, with a PE percentage of 0.00, indicating that the company is currently at a loss. The GF Value of the stock is 0.00, which means that the stock's current price cannot be evaluated against the GF Value. 
Performance and Financial Health of ASA
Since the transaction, ASA's stock has seen a slight decrease of -0.58%. However, since its IPO, the stock has seen a gain of 5.15%. The year-to-date price change ratio stands at -7.13. The GF Score of the stock 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 of the stock is 0/10, indicating no growth data available. The GF Value Rank and Momentum Rank of the stock are also 0/10 and 7/10 respectively.
ASA's Growth and Momentum
ASA's financial health is further indicated by its Piotroski F-Score of 4 and an Altman Z Score of 0.00. The company's cash to debt rank is 1, indicating a weak cash position relative to its debt. The company's ROE and ROA are -15.53 and -15.50 respectively, with ranks of 1505 and 1553. The company's gross margin growth, operating margin growth, and three-year growth in revenue, EBITDA, and earnings are all 0.00, indicating no growth data available. The company's predictability rank is not available. The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 54.18, 52.92, and 50.88 respectively. The stock's momentum index 6 - 1 month is -25.73, and the momentum index 12 - 1 month is 0.15. The RSI 14 Day rank is 861, and the momentum index 6 - 1 month rank is 1587.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ASA Gold And Precious Metals Ltd shares represents a strategic move to diversify its portfolio. Despite ASA's current financial performance and growth indicators, the firm's investment could yield long-term benefits depending on market trends and the company's future performance. As of November 7, 2023, the transaction has had a minor impact on the firm's portfolio and the stock's 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.
