Saba Capital Management, L.P. Acquires 23,459 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 23,459 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $23.56 per share, with a total value of $552,694.04. Following the completion of the purchase, the insider now directly owns 2,698,567 shares in the company, valued at $63,578,238.52. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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, July 1st, Saba Capital Management, L.P. purchased 26,730 shares of Adams Natural Resources Fund stock. The shares were purchased at an average cost of $23.59 per share, with a total value of $630,560.70.
• On Wednesday, June 26th, Saba Capital Management, L.P. acquired 12,850 shares of Adams Natural Resources Fund stock. The stock was acquired 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. purchased 12,081 shares of Adams Natural Resources Fund stock. The stock was acquired at an average cost of $23.22 per share, for a total transaction of $280,520.82.
• On Monday, June 17th, Saba Capital Management, L.P. purchased 30,234 shares of Adams Natural Resources Fund stock. The stock was 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. acquired 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 Price Performance

Adams Natural Resources Fund stock opened at $23.39 on Wednesday. Adams Natural Resources Fund, Inc. has a fifty-two week low of $19.78 and a fifty-two week high of $24.25. The stock has a fifty day moving average of $23.25 and a two-hundred day moving average of $22.21.

Adams Natural Resources Fund Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zazove Associates LLC purchased a new stake in shares of Adams Natural Resources Fund during the fourth quarter worth about $37,000. Venturi Wealth Management LLC grew its stake in Adams Natural Resources Fund by 199.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,499 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,665 shares during the period. Vantage Financial Partners LLC acquired a new position in Adams Natural Resources Fund in the 1st quarter valued at $201,000. Flow State Investments L.P. purchased a new position in shares of Adams Natural Resources Fund during the 4th quarter worth $304,000. Finally, Alta Capital Management LLC acquired a new stake in shares of Adams Natural Resources Fund during the fourth quarter worth $413,000. 33.54% of the stock is currently owned by hedge funds and other 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.