Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Acquires 11,058 Shares of Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. purchased 11,058 shares of Adams Natural Resources Fund stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $22.70 per share, for a total transaction of $251,016.60. Following the completion of the purchase, the insider now owns 2,837,006 shares of the company’s stock, valued at $64,400,036.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 1st, Saba Capital Management, L.P. purchased 9,863 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $24.14 per share, for a total transaction of $238,092.82.
• On Monday, July 22nd, Saba Capital Management, L.P. purchased 7,549 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $23.85 per share, for a total transaction of $180,043.65.
• On Thursday, July 18th, Saba Capital Management, L.P. acquired 12,948 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $24.29 per share, with a total value of $314,506.92.
• On Tuesday, July 16th, Saba Capital Management, L.P. purchased 7,674 shares of Adams Natural Resources Fund stock. The stock was acquired at an average price of $23.93 per share, with a total value of $183,638.82.
• On Friday, July 12th, Saba Capital Management, L.P. bought 11,697 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $23.61 per share, for a total transaction of $276,166.17.
• On Friday, July 5th, Saba Capital Management, L.P. purchased 17,917 shares of Adams Natural Resources Fund stock. The stock was acquired at an average price of $23.61 per share, for a total transaction of $423,020.37.
• On Wednesday, July 3rd, Saba Capital Management, L.P. acquired 5,430 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $23.58 per share, for a total transaction of $128,039.40.
• On Monday, July 1st, Saba Capital Management, L.P. bought 26,730 shares of Adams Natural Resources Fund stock. The shares were bought 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 price 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 purchased at an average price of $23.35 per share, with a total value of $300,047.50.

Adams Natural Resources Fund Trading Up 1.2 %

Shares of NYSE:PEO traded up $0.28 on Friday, hitting $23.01. 32,745 shares of the company were exchanged, compared to its average volume of 37,245. Adams Natural Resources Fund, Inc. has a 1-year low of $19.78 and a 1-year high of $24.49. The stock’s 50 day moving average price is $23.35 and its 200 day moving average price is $22.90.

Adams Natural Resources Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.54 per share. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. This represents a $2.16 annualized dividend and a dividend yield of 9.39%. The ex-dividend date is Monday, August 5th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PEO. Kovack Advisors Inc. raised its stake in shares of Adams Natural Resources Fund by 5.2% in the 4th quarter. Kovack Advisors Inc. now owns 24,082 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 1,191 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Adams Natural Resources Fund by 13.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 53,709 shares of the financial services provider’s stock valued at $1,108,000 after purchasing an additional 6,471 shares during the period. Principal Securities Inc. purchased a new position in shares of Adams Natural Resources Fund in the 4th quarter valued at approximately $478,000. FCA Corp TX grew its position in Adams Natural Resources Fund by 5.4% in the 4th quarter. FCA Corp TX now owns 103,233 shares of the financial services provider’s stock valued at $2,130,000 after buying an additional 5,251 shares during the last quarter. Finally, Cornerstone Advisors LLC increased its stake in shares of Adams Natural Resources Fund by 2.4% during the fourth quarter. Cornerstone Advisors LLC now owns 482,767 shares of the financial services provider’s stock worth $9,959,000 after acquiring an additional 11,207 shares during the period. Hedge funds and other institutional investors own 33.54% of the company’s stock.

About Adams Natural Resources Fund

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.