Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Purchases 13,785 Shares of Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 13,785 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $22.76 per share, for a total transaction of $313,746.60. Following the completion of the purchase, the insider now directly owns 2,853,687 shares of the company’s stock, valued at $64,949,916.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, August 28th, Saba Capital Management, L.P. purchased 100 shares of Adams Natural Resources Fund stock. The shares were 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. acquired 11,058 shares of Adams Natural Resources Fund stock. The shares were acquired 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 shares were acquired at an average price of $24.14 per share, for a total transaction of $238,092.82.
• On Monday, July 22nd, Saba Capital Management, L.P. purchased 7,549 shares of Adams Natural Resources Fund stock. The shares were purchased at an average price of $23.85 per share, for a total transaction of $180,043.65.
• On Thursday, July 18th, Saba Capital Management, L.P. purchased 12,948 shares of Adams Natural Resources Fund stock. The stock was acquired 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. purchased 7,674 shares of Adams Natural Resources Fund stock. The stock was bought 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 stock was acquired at an average price of $23.61 per share, for a total transaction of $276,166.17.
• 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 price of $23.61 per share, for a total transaction of $423,020.37.
• On Wednesday, July 3rd, Saba Capital Management, L.P. bought 5,430 shares of Adams Natural Resources Fund stock. The shares were purchased at an average cost of $23.58 per share, for a total transaction of $128,039.40.
• On Monday, July 1st, Saba Capital Management, L.P. purchased 26,730 shares of Adams Natural Resources Fund stock. The shares were bought at an average price of $23.59 per share, with a total value of $630,560.70.

Adams Natural Resources Fund Price Performance

Shares of NYSE:PEO opened at $22.37 on Friday. The company’s 50 day moving average is $23.35 and its two-hundred day moving average is $23.06. 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 declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.66%. The ex-dividend date was Monday, August 5th. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16.

Hedge Funds Weigh In On Adams Natural Resources Fund

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of Adams Natural Resources Fund by 241.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,283 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Adams Natural Resources Fund by 25.6% during the second 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 period. Searle & CO. acquired a new stake in Adams Natural Resources Fund in the second quarter worth about $201,000. Miracle Mile Advisors LLC acquired a new stake in Adams Natural Resources Fund in the 2nd quarter valued at about $338,000. Finally, Whitener Capital Management Inc. raised its holdings in 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 worth $1,746,000 after buying an additional 2,692 shares during the period. 33.54% of the stock is currently owned by hedge funds and other institutional investors.

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.