Adams Natural Resources Fund (NYSE:PEO) Sets New 1-Year High After Dividend Announcement

Adams Natural Resources Fund, Inc. (NYSE:PEO)’s stock price reached a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $24.68 and last traded at $24.68, with a volume of 500 shares. The stock had previously closed at $24.28.

The newly announced dividend which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 22nd will be given a $1.03 dividend. The ex-dividend date is Friday, November 22nd. This is a positive change from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. This represents a $4.12 dividend on an annualized basis and a yield of 17.02%.

Adams Natural Resources Fund Stock Down 0.3 %

The firm has a fifty day moving average price of $23.57 and a 200 day moving average price of $23.38.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. purchased 16,514 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $22.85 per share, with a total value of $377,344.90. Following the acquisition, the insider now directly owns 2,888,924 shares of the company’s stock, valued at approximately $66,011,913.40. This represents a 0.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 53,103 shares of company stock valued at $1,204,624. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Adams Natural Resources Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Whitener Capital Management Inc. increased its position in shares of Adams Natural Resources Fund by 0.7% in the third quarter. Whitener Capital Management Inc. now owns 74,478 shares of the financial services provider’s stock valued at $1,729,000 after acquiring an additional 531 shares during the last quarter. Cullen Investment Group LTD. increased its position in shares of Adams Natural Resources Fund by 2.1% during the 3rd quarter. Cullen Investment Group LTD. now owns 28,240 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 580 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Adams Natural Resources Fund by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 64,107 shares of the financial services provider’s stock worth $1,489,000 after purchasing an additional 715 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Adams Natural Resources Fund by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 74,260 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 1,582 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 valued at $76,000 after buying an additional 2,283 shares in the last quarter. Institutional investors and hedge funds own 33.54% of the company’s stock.

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.