Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Acquires $552,694.04 in Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. purchased 23,459 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $23.56 per share, with a total value of $552,694.04. Following the completion of the acquisition, the insider now directly owns 2,698,567 shares in the company, valued at approximately $63,578,238.52. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Monday, July 1st, Saba Capital Management, L.P. bought 26,730 shares of Adams Natural Resources Fund stock. The stock was acquired at an average cost of $23.59 per share, for a total transaction of $630,560.70.
• On Wednesday, June 26th, Saba Capital Management, L.P. bought 12,850 shares of Adams Natural Resources Fund stock. The shares were bought 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 stock was 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. acquired 30,234 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $22.79 per share, with a total value of $689,032.86.
• On Friday, June 14th, Saba Capital Management, L.P. bought 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

Shares of PEO opened at $23.61 on Thursday. The firm has a fifty day moving average of $23.25 and a 200-day moving average of $22.22. Adams Natural Resources Fund, Inc. has a 1 year low of $19.78 and a 1 year high of $24.25.

Adams Natural Resources Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, May 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PEO. Cornerstone Advisors LLC raised its holdings 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 valued at $9,959,000 after buying an additional 11,207 shares during the last quarter. Raymond James & Associates grew its holdings in Adams Natural Resources Fund by 22.2% in the 4th quarter. Raymond James & Associates now owns 224,749 shares of the financial services provider’s stock worth $4,637,000 after buying an additional 40,832 shares in the last quarter. FCA Corp TX increased 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 acquiring an additional 5,251 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in 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 valued at $1,363,000 after acquiring an additional 1,217 shares in the last quarter. Finally, Quantedge Capital Pte Ltd boosted its position in Adams Natural Resources Fund by 31.8% during the 4th quarter. Quantedge Capital Pte Ltd now owns 57,826 shares of the financial services provider’s stock worth $1,193,000 after acquiring an additional 13,944 shares during the period. Institutional investors own 33.54% of the company’s stock.

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.