Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Acquires $423,020.37 in Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. acquired 17,917 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was purchased at an average price of $23.61 per share, with a total value of $423,020.37. Following the completion of the acquisition, the insider now directly owns 2,753,013 shares in the company, valued at approximately $64,998,636.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, July 3rd, Saba Capital Management, L.P. bought 5,430 shares of Adams Natural Resources Fund stock. The stock was purchased at an average price of $23.58 per share, with a total value of $128,039.40.
• On Monday, July 1st, Saba Capital Management, L.P. purchased 26,730 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $23.59 per share, for a total transaction of $630,560.70.
• On Friday, June 28th, Saba Capital Management, L.P. acquired 23,459 shares of Adams Natural Resources Fund stock. The stock was acquired at an average cost of $23.56 per share, with a total value of $552,694.04.
• On Wednesday, June 26th, Saba Capital Management, L.P. purchased 12,850 shares of Adams Natural Resources Fund stock. The stock was acquired at an average cost of $23.35 per share, with a total value of $300,047.50.
• On Monday, June 24th, Saba Capital Management, L.P. acquired 12,081 shares of Adams Natural Resources Fund stock. The shares were bought at an average cost of $23.22 per share, for a total transaction of $280,520.82.
• On Monday, June 17th, Saba Capital Management, L.P. bought 30,234 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $22.79 per share, with a total value of $689,032.86.
• On Friday, June 14th, Saba Capital Management, L.P. purchased 18,639 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $22.74 per share, for a total transaction of $423,850.86.

Adams Natural Resources Fund Price Performance

NYSE:PEO opened at $23.10 on Thursday. Adams Natural Resources Fund, Inc. has a fifty-two week low of $19.78 and a fifty-two week high of $24.25. The business has a 50 day moving average price of $23.24 and a 200-day moving average price of $22.30.

Adams Natural Resources Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday, May 16th.

Hedge Funds Weigh In On Adams Natural Resources Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates increased its holdings in Adams Natural Resources Fund by 22.2% during the 4th quarter. Raymond James & Associates now owns 224,749 shares of the financial services provider’s stock valued at $4,637,000 after purchasing an additional 40,832 shares during the period. Cullen Investment Group LTD. purchased a new stake in Adams Natural Resources Fund in the 4th quarter worth approximately $568,000. Principal Securities Inc. bought a new stake in shares of Adams Natural Resources Fund in the 4th quarter worth approximately $478,000. Alta Capital Management LLC purchased a new position in shares of Adams Natural Resources Fund during the fourth quarter valued at approximately $413,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Adams Natural Resources Fund by 117.6% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 31,583 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 17,068 shares in the last quarter. 33.54% of the stock is owned by institutional investors.

Adams Natural Resources Fund Company Profile

Adams Natural Resources Fund, Inc is a publicly owned investment manager. The firm invests in the public equity markets across the globe. The firm manages closed-end equity fund focused on the energy and material sectors. It invests in stocks of companies of all market capitalizations operating in the energy and natural resources sector including oil companies, exploration and production, utilities, services, and basic materials sectors.