Saba Capital Management L.P. lowered its stake in shares of Adams Natural Resources Fund, Inc. (NYSE:PEO – Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,262,661 shares of the financial services provider’s stock after selling 435,589 shares during the quarter. Adams Natural Resources Fund comprises about 1.7% of Saba Capital Management L.P.’s holdings, making the stock its 10th largest position. Saba Capital Management L.P. owned 8.23% of Adams Natural Resources Fund worth $62,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of PEO. Global Retirement Partners LLC acquired a new stake in shares of Adams Natural Resources Fund in the fourth quarter worth approximately $35,000. Comerica Bank grew its holdings in Adams Natural Resources Fund by 38.1% in the first quarter. Comerica Bank now owns 1,859 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 513 shares during the period. Advisory Services Network LLC acquired a new position in Adams Natural Resources Fund during the third quarter worth approximately $48,000. Fifth Third Bancorp increased its position in Adams Natural Resources Fund by 2,697.6% during the first quarter. Fifth Third Bancorp now owns 2,294 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 2,212 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Adams Natural Resources Fund by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,550 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 600 shares during the period. 33.54% of the stock is currently owned by hedge funds and other institutional investors.
Adams Natural Resources Fund Trading Down 3.6%
Shares of PEO opened at $26.62 on Tuesday. The company’s fifty day moving average is $25.72 and its two-hundred day moving average is $25.73. Adams Natural Resources Fund, Inc. has a fifty-two week low of $20.57 and a fifty-two week high of $28.88.
Adams Natural Resources Fund Increases Dividend
Adams Natural Resources Fund Company Profile
Adams Natural Resources Fund (NYSE: PEO) is a closed-end management investment company that seeks total return through a combination of capital appreciation and current income. Listed on the New York Stock Exchange, the fund offers investors a way to access a diversified portfolio of companies engaged in the natural resources and energy sectors without investing directly in individual stocks or commodities.
The fund primarily invests in equity securities, including common and preferred stocks, of companies involved in exploration, production, processing, and distribution of oil, natural gas, coal and alternative energy sources.
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