Saba Capital Management, L.P. Acquires 10,476 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) Stock

Posted by Don Miller on Sep 11th, 2024

Adams Natural Resources Fund, Inc. (NYSE:PEO – Get Free Report) major shareholder Saba Capital Management, L.P. bought 10,476 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $22.19 per share, with a total value of $232,462.44. Following the completion of the transaction, the insider now owns 2,864,659 shares in the company, valued at approximately $63,566,783.21. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Friday, September 6th, Saba Capital Management, L.P. bought 170 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $22.21 per share, with a total value of $3,775.70.
On Wednesday, September 4th, Saba Capital Management, L.P. purchased 13,785 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $22.76 per share, with a total value of $313,746.60.
On Wednesday, August 28th, Saba Capital Management, L.P. purchased 100 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $22.98 per share, with a total value of $2,298.00.
On Thursday, August 22nd, Saba Capital Management, L.P. purchased 11,058 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $22.70 per share, with a total value of $251,016.60.
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, with a total value 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, with a total value of $180,043.65.
On Thursday, July 18th, Saba Capital Management, L.P. bought 12,948 shares of Adams Natural Resources Fund stock. The stock was purchased 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. bought 7,674 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost 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 purchased at an average cost of $23.61 per share, with a total value of $276,166.17.
On Friday, July 5th, Saba Capital Management, L.P. bought 17,917 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $23.61 per share, with a total value of $423,020.37.

Adams Natural Resources Fund Stock Performance

Shares of PEO stock traded down $0.33 during trading hours on Wednesday, reaching $21.68. The company had a trading volume of 39,686 shares, compared to its average volume of 38,266. The business has a fifty day moving average price of $23.28 and a 200-day moving average price of $23.11. Adams Natural Resources Fund, Inc. has a one year low of $19.78 and a one year high of $24.49.

Adams Natural Resources Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were paid a $0.54 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.96%.

Institutional Trading of Adams Natural Resources Fund

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. bought a new stake in Adams Natural Resources Fund during the fourth quarter valued at approximately $478,000. Blue Bell Private Wealth Management LLC grew its position in Adams Natural Resources Fund by 25.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 51,918 shares of the financial services provider’s stock valued at $1,226,000 after buying an additional 10,593 shares during the period. D.A. Davidson & CO. grew its position in Adams Natural Resources Fund by 7.9% during 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 buying an additional 3,983 shares during the period. Simplicity Wealth LLC bought a new stake in Adams Natural Resources Fund during the second quarter valued at approximately $203,000. Finally, FCA Corp TX grew its position in Adams Natural Resources Fund by 5.4% during the fourth 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 period. 33.54% of the stock is currently owned by institutional investors.

About Adams Natural Resources Fund

(Get Free Report)

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.