Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Saba Capital Management, L.P. Acquires 12,850 Shares

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 12,850 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $23.35 per share, for a total transaction of $300,047.50. Following the acquisition, the insider now owns 2,670,081 shares in the company, valued at approximately $62,346,391.35. The purchase was disclosed in a filing 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 Monday, June 24th, Saba Capital Management, L.P. bought 12,081 shares of Adams Natural Resources Fund stock. The shares were acquired at an average price of $23.22 per share, for a total transaction of $280,520.82.
• On Monday, June 17th, Saba Capital Management, L.P. bought 30,234 shares of Adams Natural Resources Fund stock. The shares were acquired at an average price of $22.79 per share, for a total transaction of $689,032.86.
• On Friday, June 14th, Saba Capital Management, L.P. purchased 18,639 shares of Adams Natural Resources Fund stock. The stock was purchased at an average price of $22.74 per share, for a total transaction of $423,850.86.

Adams Natural Resources Fund Trading Down 0.1 %

Shares of Adams Natural Resources Fund stock opened at $23.44 on Friday. The firm’s 50-day moving average is $23.25 and its 200 day moving average is $22.12. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 16th.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of hedge funds have recently bought and sold shares of the company. Saba Capital Management L.P. lifted its stake in 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 acquiring an additional 909,398 shares during the period. Raymond James & Associates lifted its stake in 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 acquiring an additional 40,832 shares during the period. Cullen Investment Group LTD. bought a new position in Adams Natural Resources Fund during the 4th quarter valued at about $568,000. Principal Securities Inc. bought a new position in Adams Natural Resources Fund during the 4th quarter valued at about $478,000. Finally, Alta Capital Management LLC bought a new position in Adams Natural Resources Fund during the 4th quarter valued at about $413,000. 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.