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

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 16,514 shares of Adams Natural Resources Fund stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $22.85 per share, for a total transaction of $377,344.90. Following the transaction, the insider now directly owns 2,888,924 shares in the company, valued at $66,011,913.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 shares were bought at an average cost of $22.19 per share, for a total transaction of $232,462.44.
• On Friday, September 6th, Saba Capital Management, L.P. purchased 170 shares of Adams Natural Resources Fund stock. The shares were purchased at an average cost of $22.21 per share, for a total transaction of $3,775.70.
• On Wednesday, September 4th, Saba Capital Management, L.P. purchased 13,785 shares of Adams Natural Resources Fund stock. The shares were bought at an average cost of $22.76 per share, for a total transaction of $313,746.60.
• On Wednesday, August 28th, Saba Capital Management, L.P. bought 100 shares of Adams Natural Resources Fund stock. The shares were acquired 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. purchased 11,058 shares of Adams Natural Resources Fund stock. The stock was purchased at an average price of $22.70 per share, for a total transaction 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, with a total value 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, with a total value of $180,043.65.
• On Thursday, July 18th, Saba Capital Management, L.P. acquired 12,948 shares of Adams Natural Resources Fund stock. The shares were purchased at an average price of $24.29 per share, with a total value 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 acquired 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. purchased 11,697 shares of Adams Natural Resources Fund stock. The shares were bought at an average cost of $23.61 per share, for a total transaction of $276,166.17.

Adams Natural Resources Fund Stock Up 0.3 %

Shares of NYSE PEO traded up $0.06 during midday trading on Monday, reaching $23.22. 70,864 shares of the company's stock were exchanged, compared to its average volume of 39,474. Adams Natural Resources Fund, Inc. has a 52-week low of $19.78 and a 52-week high of $24.49. The business's fifty day moving average price is $23.04 and its two-hundred day moving average price is $23.22.

Adams Natural Resources Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a $0.54 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.16 annualized dividend and a dividend yield of 9.30%. This is an increase from Adams Natural Resources Fund's previous quarterly dividend of $0.16.

Institutional Trading of Adams Natural Resources Fund

Several institutional investors and hedge funds have recently bought and sold shares of PEO. Northwestern Mutual Wealth Management Co. increased its position in Adams Natural Resources Fund by 241.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider's stock worth $76,000 after buying an additional 2,283 shares during the period. Searle & CO. bought a new stake in shares of Adams Natural Resources Fund during the 2nd quarter worth $201,000. Vantage Financial Partners LLC acquired a new stake in Adams Natural Resources Fund during the 1st quarter worth about $201,000. Simplicity Wealth LLC purchased a new stake in shares of Adams Natural Resources Fund in the 2nd quarter valued at approximately $203,000. Finally, Flow State Investments L.P. acquired a new stake in shares of Adams Natural Resources Fund in the fourth quarter worth $304,000. Institutional investors and hedge funds 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.