Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Buys $300,047.50 in Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 12,850 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average price of $23.35 per share, with a total value of $300,047.50. Following the completion of the purchase, the insider now directly owns 2,670,081 shares of the company’s stock, valued at $62,346,391.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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. bought 12,081 shares of Adams Natural Resources Fund stock. The shares were 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. bought 30,234 shares of Adams Natural Resources Fund stock. The shares were 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. bought 18,639 shares of Adams Natural Resources Fund stock. The shares were acquired at an average price of $22.74 per share, with a total value of $423,850.86.

Adams Natural Resources Fund Stock Performance

NYSE PEO opened at $23.61 on Friday. The business has a fifty day moving average price of $23.25 and a two-hundred day moving average price of $22.16. Adams Natural Resources Fund, Inc. has a fifty-two week low of $19.78 and a fifty-two week high of $24.25.

Adams Natural Resources Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders 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 annualized dividend and a dividend yield of 1.69%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Saba Capital Management L.P. increased its holdings in Adams Natural Resources Fund by 125.4% in the third 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 increased its holdings in Adams Natural Resources Fund by 22.2% in the fourth 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. acquired a new stake in Adams Natural Resources Fund in the fourth quarter valued at $568,000. Principal Securities Inc. acquired a new stake in Adams Natural Resources Fund in the fourth quarter valued at $478,000. Finally, Alta Capital Management LLC acquired a new stake in Adams Natural Resources Fund in the fourth quarter valued at $413,000. 33.54% of the stock is currently owned by institutional investors and hedge funds.

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.