Saba Capital Management, L.P. Acquires 7,549 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) Stock

Posted by Scott Davis on Jul 23rd, 2024

Adams Natural Resources Fund, Inc. (NYSE:PEO – Get Free Report) major shareholder Saba Capital Management, L.P. bought 7,549 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average cost of $23.85 per share, for a total transaction of $180,043.65. Following the transaction, the insider now owns 2,805,121 shares of the company’s stock, valued at $66,902,135.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Thursday, July 18th, Saba Capital Management, L.P. acquired 12,948 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $24.29 per share, for a total transaction of $314,506.92.
On Tuesday, July 16th, Saba Capital Management, L.P. acquired 7,674 shares of Adams Natural Resources Fund stock. The stock was purchased at an average price of $23.93 per share, with a total value of $183,638.82.
On Friday, July 12th, Saba Capital Management, L.P. purchased 11,697 shares of Adams Natural Resources Fund stock. The shares were acquired at an average cost of $23.61 per share, with a total value of $276,166.17.
On Friday, July 5th, Saba Capital Management, L.P. acquired 17,917 shares of Adams Natural Resources Fund stock. The shares were bought at an average cost of $23.61 per share, with a total value of $423,020.37.
On Wednesday, July 3rd, Saba Capital Management, L.P. purchased 5,430 shares of Adams Natural Resources Fund stock. The stock was purchased at an average price of $23.58 per share, for a total transaction of $128,039.40.
On Monday, July 1st, Saba Capital Management, L.P. bought 26,730 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $23.59 per share, for a total transaction of $630,560.70.
On Friday, June 28th, Saba Capital Management, L.P. acquired 23,459 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $23.56 per share, for a total transaction of $552,694.04.
On Wednesday, June 26th, Saba Capital Management, L.P. acquired 12,850 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $23.35 per share, for a total transaction of $300,047.50.
On Monday, June 24th, Saba Capital Management, L.P. acquired 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. purchased 30,234 shares of Adams Natural Resources Fund stock. The shares were bought at an average cost of $22.79 per share, for a total transaction of $689,032.86.

Adams Natural Resources Fund Trading Down 0.4 %

PEO stock traded down $0.10 during trading on Tuesday, hitting $23.70. The stock had a trading volume of 20,563 shares, compared to its average volume of 36,856. The company’s 50-day moving average price is $23.34 and its two-hundred day moving average price is $22.48. Adams Natural Resources Fund, Inc. has a twelve month low of $19.78 and a twelve month high of $24.40.

Adams Natural Resources Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be paid a $0.54 dividend. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.16 annualized dividend and a dividend yield of 9.11%.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of institutional investors and hedge funds have recently modified their holdings of PEO. Miracle Mile Advisors LLC purchased a new position in Adams Natural Resources Fund during the second quarter worth about $338,000. Whitener Capital Management Inc. raised its stake in shares of Adams Natural Resources Fund by 3.8% in the 2nd quarter. Whitener Capital Management Inc. now owns 73,947 shares of the financial services provider’s stock valued at $1,746,000 after acquiring an additional 2,692 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Adams Natural Resources Fund in the 2nd quarter valued at $203,000. Vantage Financial Partners LLC acquired a new stake in Adams Natural Resources Fund during the 1st quarter valued at $201,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Adams Natural Resources Fund by 30.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 41,325 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 9,742 shares in the last quarter. Institutional investors and hedge funds own 33.54% of the company’s stock.

Adams Natural Resources Fund Company Profile

(Get Free Report)

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.