Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Purchases 16,514 Shares of Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. acquired 16,514 shares of Adams Natural Resources Fund stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $22.85 per share, with a total value of $377,344.90. Following the completion of the purchase, the insider now directly owns 2,888,924 shares in the company, valued at $66,011,913.40. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% 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 Tuesday, September 10th, Saba Capital Management, L.P. acquired 10,476 shares of Adams Natural Resources Fund stock. The stock was bought at an average price of $22.19 per share, with a total value of $232,462.44.
• On Friday, September 6th, Saba Capital Management, L.P. bought 170 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $22.21 per share, with a total value of $3,775.70.
• On Wednesday, September 4th, Saba Capital Management, L.P. bought 13,785 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $22.76 per share, with a total value of $313,746.60.
• On Wednesday, August 28th, Saba Capital Management, L.P. bought 100 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $22.98 per share, with a total value of $2,298.00.
• On Thursday, August 22nd, Saba Capital Management, L.P. bought 11,058 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $22.70 per share, with a total value of $251,016.60.
• On Thursday, August 1st, Saba Capital Management, L.P. bought 9,863 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $24.14 per share, with a total value of $238,092.82.
• On Monday, July 22nd, Saba Capital Management, L.P. bought 7,549 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $23.85 per share, with a total value of $180,043.65.
• On Thursday, July 18th, Saba Capital Management, L.P. bought 12,948 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $24.29 per share, with a total value of $314,506.92.
• On Tuesday, July 16th, Saba Capital Management, L.P. bought 7,674 shares of Adams Natural Resources Fund stock. The stock was purchased at an average cost of $23.93 per share, with a total value of $183,638.82.
• On Friday, July 12th, Saba Capital Management, L.P. acquired 11,697 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 $276,166.17.

Adams Natural Resources Fund Price Performance

PEO opened at $24.06 on Thursday. The firm has a 50-day simple moving average of $23.04 and a two-hundred day simple moving average of $23.23. Adams Natural Resources Fund, Inc. has a 52 week low of $19.78 and a 52 week high of $24.49.

Adams Natural Resources Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 8.98%. The ex-dividend date of this dividend was Monday, August 5th. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Whitener Capital Management Inc. boosted its holdings in shares of Adams Natural Resources Fund by 3.8% during 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 purchasing an additional 2,692 shares during the last quarter. Quantedge Capital Pte Ltd lifted its holdings in shares of Adams Natural Resources Fund by 31.8% in the 4th quarter. Quantedge Capital Pte Ltd now owns 57,826 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 13,944 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Adams Natural Resources Fund by 25.6% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 51,918 shares of the financial services provider’s stock valued at $1,226,000 after acquiring an additional 10,593 shares during the last quarter. Flow State Investments L.P. bought a new position in shares of Adams Natural Resources Fund in the 4th quarter valued at about $304,000. Finally, Miracle Mile Advisors LLC bought a new position in shares of Adams Natural Resources Fund in the 2nd quarter valued at about $338,000. 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.