Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Acquires $128,039.40 in Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 5,430 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was bought at an average cost of $23.58 per share, for a total transaction of $128,039.40. Following the transaction, the insider now directly owns 2,735,096 shares of the company’s stock, valued at $64,493,563.68. The purchase was disclosed in a filing with the SEC, which is available through this link. Major 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 Friday, July 5th, Saba Capital Management, L.P. bought 17,917 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $23.61 per share, for a total transaction of $423,020.37.
• On Monday, July 1st, Saba Capital Management, L.P. bought 26,730 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $23.59 per share, for a total transaction of $630,560.70.
• On Friday, June 28th, Saba Capital Management, L.P. bought 23,459 shares of Adams Natural Resources Fund stock. The stock was bought at an average cost of $23.56 per share, for a total transaction of $552,694.04.
• On Wednesday, June 26th, Saba Capital Management, L.P. bought 12,850 shares of Adams Natural Resources Fund stock. The stock was bought 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 shares were 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 shares were acquired at an average cost 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 shares were acquired at an average cost of $22.74 per share, for a total transaction of $423,850.86.

Adams Natural Resources Fund Price Performance

Shares of PEO opened at $23.10 on Thursday. Adams Natural Resources Fund, Inc. has a 1 year low of $19.78 and a 1 year high of $24.25. The company’s 50-day simple moving average is $23.24 and its 200-day simple moving average is $22.30.

Adams Natural Resources Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.40 annualized dividend and a yield of 1.73%.

Institutional Trading of Adams Natural Resources Fund

Several hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new stake in Adams Natural Resources Fund in the second quarter valued at approximately $203,000. Vantage Financial Partners LLC acquired a new stake in Adams Natural Resources Fund in the first quarter valued at approximately $201,000. Blue Bell Private Wealth Management LLC raised its holdings in Adams Natural Resources Fund by 30.8% in the first quarter. Blue Bell Private Wealth Management LLC now owns 41,325 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 9,742 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Adams Natural Resources Fund by 2.1% in the first quarter. Nations Financial Group Inc. IA ADV now owns 59,107 shares of the financial services provider’s stock valued at $1,363,000 after acquiring an additional 1,217 shares in the last quarter. Finally, Flow State Investments L.P. acquired a new stake in Adams Natural Resources Fund in the fourth quarter valued at approximately $304,000. Institutional investors and hedge funds own 33.54% of the company’s stock.

About Adams Natural Resources Fund

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.