Insider Buying: Adams Natural Resources Fund, Inc. (NYSE:PEO) Major Shareholder Acquires 30,234 Shares of Stock

Adams Natural Resources Fund, Inc. (NYSE:PEO) major shareholder Saba Capital Management, L.P. bought 30,234 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $22.79 per share, for a total transaction of $689,032.86. Following the completion of the purchase, the insider now directly owns 2,604,860 shares of the company’s stock, valued at $59,364,759.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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, June 14th, Saba Capital Management, L.P. bought 18,639 shares of Adams Natural Resources Fund stock. The stock was bought at an average price of $22.74 per share, with a total value of $423,850.86.

Adams Natural Resources Fund Stock Performance

NYSE:PEO traded up $0.09 during mid-day trading on Tuesday, reaching $22.82. The stock had a trading volume of 56,909 shares, compared to its average volume of 36,452. Adams Natural Resources Fund, Inc. has a one year low of $19.72 and a one year high of $24.25. The firm has a 50 day moving average price of $23.32 and a two-hundred day moving average price of $21.97.

Adams Natural Resources Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEO. Saba Capital Management L.P. raised its holdings in Adams Natural Resources Fund by 125.4% in the third quarter. Saba Capital Management L.P. now owns 1,634,468 shares of the financial services provider’s stock worth $37,789,000 after buying an additional 909,398 shares during the last quarter. Raymond James & Associates raised its holdings in Adams Natural Resources Fund by 22.2% in the fourth quarter. Raymond James & Associates now owns 224,749 shares of the financial services provider’s stock worth $4,637,000 after buying an additional 40,832 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in Adams Natural Resources Fund in the fourth quarter worth about $568,000. Principal Securities Inc. purchased a new position in Adams Natural Resources Fund in the fourth quarter worth about $478,000. Finally, Alta Capital Management LLC purchased a new position in Adams Natural Resources Fund in the fourth quarter worth about $413,000. 33.54% of the stock is 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.