Saba Capital Management, L.P. Buys 12,850 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. acquired 12,850 shares of Adams Natural Resources Fund stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average price of $23.35 per share, with a total value of $300,047.50. Following the completion of the acquisition, the insider now directly owns 2,670,081 shares in the company, valued at approximately $62,346,391.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares 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, June 24th, Saba Capital Management, L.P. acquired 12,081 shares of Adams Natural Resources Fund stock. The stock was acquired at an average price of $23.22 per share, with a total value of $280,520.82.
• On Monday, June 17th, Saba Capital Management, L.P. acquired 30,234 shares of Adams Natural Resources Fund stock. The stock was acquired 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. acquired 18,639 shares of Adams Natural Resources Fund stock. The stock was acquired at an average price of $22.74 per share, with a total value of $423,850.86.

Adams Natural Resources Fund Trading Up 0.7 %

NYSE PEO opened at $23.60 on Friday. Adams Natural Resources Fund, Inc. has a one year low of $19.78 and a one year high of $24.25. The stock has a 50-day moving average of $23.25 and a 200 day moving average of $22.14.

Adams Natural Resources Fund Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%.

Institutional Investors Weigh In On Adams Natural Resources Fund

A number of large investors have recently made changes to their positions in PEO. Saba Capital Management L.P. grew its stake in shares of Adams Natural Resources Fund by 125.4% during the 3rd quarter. Saba Capital Management L.P. now owns 1,634,468 shares of the financial services provider’s stock valued at $37,789,000 after purchasing an additional 909,398 shares during the period. Raymond James & Associates grew its stake in shares of 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. bought a new stake in shares of Adams Natural Resources Fund during the 4th quarter valued at about $568,000. Principal Securities Inc. bought a new stake in shares of Adams Natural Resources Fund during the 4th quarter valued at about $478,000. Finally, Alta Capital Management LLC bought a new stake in shares of Adams Natural Resources Fund during the 4th quarter valued at about $413,000. 33.54% of the stock is currently 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.