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Saba capital management buys $377k of Adams Natural Resources Fund stock

Published 30/09/2024, 17:02
PEO
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In a recent transaction, Saba Capital Management, L.P. has purchased shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) valued at approximately $377,344. The investment firm, known for its involvement in closed-end funds, added 16,514 shares of the company's common stock to its holdings at a price of $22.85 per share.

This acquisition has increased Saba Capital Management's ownership in the fund to a total of 2,888,924 shares. The transaction was executed on September 26, 2024, and was disclosed in a filing with the Securities and Exchange Commission on September 30, 2024.

Adams Natural Resources Fund, Inc., which trades under the ticker symbol PEO, is a specialized investment company focusing on the natural resources and energy sectors. The fund aims to offer investors long-term capital appreciation along with the potential for income by investing in a diversified portfolio of energy and natural resources stocks.

The purchase by Saba Capital Management reflects a significant investment in the fund, indicating a strong belief in the potential of Adams Natural Resources Fund's investment strategy and portfolio holdings. The transaction details were confirmed by the signatures of Saba Capital Management, L.P. representative Zachary Gindes and Boaz Weinstein, further solidifying the investment firm's commitment to the fund.

Investors keeping an eye on the movements of significant shareholders like Saba Capital Management may consider this transaction noteworthy as it could signal the investment firm's confidence in the future performance of Adams Natural Resources Fund.

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PEO

0. Pays a significant dividend to shareholders

PEO

1. Valuation implies a poor free cash flow yield

PEO

2. Has maintained dividend payments for 53 consecutive years

PEO

3. Profitable over the last twelve months

PEO

4. Strong return over the last five years

InvestingPro Data:

Market Cap (Adjusted) -: 590.02M USD

PEO

P/E Ratio -: 6.27

PEO

Revenue LTM2024.Q2 -: 20.67M USD

PEO

Revenue Growth LTM2024.Q2 -: -9.03 %

PEO

Revenue Growth (Quarterly) FY2024.Q2 -: -5.05 %

PEO

Gross Profit LTM2024.Q2 -: 20.67M USD

PEO

Gross Profit Margin LTM2024.Q2 -: 100 %

PEO

Operating Income, Adjusted LTM2024.Q2 -: 16.58M USD

PEO

EBIT LTM2024.Q2 -: 16.58M USD

PEO

Basic EPS (Cont. Ops) LTM2024.Q2 -: 3.72 USD

PEO

Diluted EPS (Cont. Ops) LTM2024.Q2 -: 3.72 USD

PEO

Dividend Yield Y2024.D274 -: 9.33 %

PEO

Ex-Date of Last Dividend Y2024.D274 -: 2024-08-05

PEO

1 Week Price Total Return Y2024.D274 -: -0.77 %

PEO

1 Month Price Total Return Y2024.D274 -: -1.32 %

PEO

3 Month Price Total Return Y2024.D274 -: 0.41 %

PEO

6 Month Price Total Return Y2024.D274 -: 3.24 %

PEO

YTD Price Total Return Y2024.D274 -: 15.96 %

PEO

1 Year Price Total Return Y2024.D274 -: 8.79 %

PEO

Price % of 52 Week High -: 94.65 %

PEO

Price, Previous Close -: 23.16 USD

PEO

Average Daily Volume (3m) Y2024.D274 -: 0.04M USD

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Article to enrich:

In a recent transaction, Saba Capital Management, L.P. has purchased shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) valued at approximately $377,344. The investment firm, known for its involvement in closed-end funds, added 16,514 shares of the company's common stock to its holdings at a price of $22.85 per share.

This acquisition has increased Saba Capital Management's ownership in the fund to a total of 2,888,924 shares. The transaction was executed on September 26, 2024, and was disclosed in a filing with the Securities and Exchange Commission on September 30, 2024.

Adams Natural Resources Fund, Inc., which trades under the ticker symbol PEO, is a specialized investment company focusing on the natural resources and energy sectors. The fund aims to offer investors long-term capital appreciation along with the potential for income by investing in a diversified portfolio of energy and natural resources stocks.

The purchase by Saba Capital Management reflects a significant investment in the fund, indicating a strong belief in the potential of Adams Natural Resources Fund's investment strategy and portfolio holdings. The transaction details were confirmed by the signatures of Saba Capital Management, L.P. representative Zachary Gindes and Boaz Weinstein, further solidifying the investment firm's commitment to the fund.

Investors keeping an eye on the movements of significant shareholders like Saba Capital Management may consider this transaction noteworthy as it could signal the investment firm's confidence in the future performance of Adams Natural Resources Fund.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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