Saba Capital Management, L.P. Acquires 11,697 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 11,697 shares of the stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $23.61 per share, with a total value of $276,166.17. Following the acquisition, the insider now owns 2,764,710 shares in the company, valued at approximately $65,274,803.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large 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 Friday, July 5th, Saba Capital Management, L.P. acquired 17,917 shares of Adams Natural Resources Fund stock. The shares were purchased at an average cost of $23.61 per share, for a total transaction of $423,020.37.
• 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 cost 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 purchased 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 shares were acquired at an average cost of $23.56 per share, for a total transaction of $552,694.04.
• On Wednesday, June 26th, Saba Capital Management, L.P. bought 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. purchased 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, for a total transaction of $689,032.86.
• On Friday, June 14th, Saba Capital Management, L.P. purchased 18,639 shares of Adams Natural Resources Fund stock. The shares were purchased at an average price of $22.74 per share, for a total transaction of $423,850.86.

Adams Natural Resources Fund Price Performance

PEO traded up $0.16 during trading on Monday, reaching $23.81. The company’s stock had a trading volume of 43,338 shares, compared to its average volume of 36,913. The company’s fifty day moving average price is $23.26 and its 200-day moving average price is $22.35. Adams Natural Resources Fund, Inc. has a 52-week low of $19.78 and a 52-week high of $24.25.

Adams Natural Resources Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, May 16th.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kovack Advisors Inc. boosted its holdings in Adams Natural Resources Fund by 5.2% during the fourth quarter. Kovack Advisors Inc. now owns 24,082 shares of the financial services provider’s stock worth $497,000 after buying an additional 1,191 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Adams Natural Resources Fund by 2.1% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 59,107 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 1,217 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Adams Natural Resources Fund by 199.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,499 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,665 shares during the last quarter. Zazove Associates LLC purchased a new stake in Adams Natural Resources Fund during the fourth quarter worth $37,000. Finally, D.A. Davidson & CO. grew its holdings in Adams Natural Resources Fund by 7.9% in the fourth quarter. D.A. Davidson & CO. now owns 54,565 shares of the financial services provider’s stock valued at $1,126,000 after purchasing an additional 3,983 shares during the last quarter. 33.54% of the stock is owned by institutional investors and hedge funds.

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.