Asa Gold & Precious Metals COO Merk Alexander buys $634,719 worth of By Investing.com shares
In a recent transaction, Merk Alexander, Chief Operating Officer of ASA Gold & Precious Metals Ltd (NYSE:ASA), acquired a significant number of shares in the company. According to a filing with the Securities and Exchange Commission, Alexander bought a total of 28,860 shares in two transactions. The purchases, which occurred on January 8 and January 10, 2025, were made at a weighted average price in the range of $21.66 to $22.09 per share, amounting to an investment of approximately $634,719.
The transactions increased Alexander’s (NYSE: ) direct ownership to 243,357 shares. In addition, Alexander indirectly holds 13,355 shares, owned by his spouse. The move reflects a strategic investment in ASA Gold & Precious Metals, a firm known for its focus on gold and precious metals investments.
In other recent news, ASA Gold & Precious Metals Ltd is in the spotlight due to a series of developments. The company adopted a shareholder rights plan to prevent unilateral control and protect the interests of shareholders. The move comes as Saba Capital Management currently holds around 17.18% of ASA’s shares. The plan is intended to prevent any entity, particularly Saba Capital, from taking control without an appropriate premium determined by the Board or the Commission.
Moreover, the company faces a governance dispute among board members. The dispute involves two sets of directors, new directors and legacy directors, both elected in April 2024. Details of the dispute remain undisclosed, however, both groups have hired separate legal counsel and are seeking reimbursement for their legal fees under the company’s bylaws.
Finally, ASA Gold has shown strong performance with a 29% year-to-date return and has maintained consistent dividend payments for 18 consecutive years. Despite these recent events, ASA continues to emphasize its openness to constructive engagement with Saba Capital and its commitment to shareholder value.
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