Saba Capital Management, L.P. Acquires 30,234 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 30,234 shares of the stock in a transaction on Monday, June 17th. The shares were bought at an average price of $22.79 per share, with a total value of $689,032.86. Following the acquisition, the insider now owns 2,604,860 shares of the company’s stock, valued at $59,364,759.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% 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 Friday, June 14th, Saba Capital Management, L.P. bought 18,639 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $22.74 per share, with a total value of $423,850.86.

Adams Natural Resources Fund Stock Performance

Adams Natural Resources Fund stock opened at $22.84 on Thursday. The business has a fifty day moving average of $23.27 and a two-hundred day moving average of $22.00. Adams Natural Resources Fund, Inc. has a twelve month low of $19.72 and a twelve month high of $24.25.

Adams Natural Resources Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued 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 yield of 1.75%.

Institutional Trading of Adams Natural Resources Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kovack Advisors Inc. lifted its holdings in shares of Adams Natural Resources Fund by 5.2% during the 4th quarter. Kovack Advisors Inc. now owns 24,082 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,191 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings 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 valued at $1,363,000 after purchasing an additional 1,217 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Adams Natural Resources Fund by 199.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,499 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,665 shares during the last quarter. Zazove Associates LLC purchased a new stake in shares of Adams Natural Resources Fund during the 4th quarter valued at $37,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Adams Natural Resources Fund by 7.9% during the 4th 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. Hedge funds and other 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.