Adams Natural Resources Fund (NYSE:PEO) Hits New 1-Year High – Here’s What Happened

Adams Natural Resources Fund, Inc. (NYSE:PEO)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $24.53 and last traded at $24.47, with a volume of 4350 shares changing hands. The stock had previously closed at $24.36.

Adams Natural Resources Fund Stock Performance

The business has a 50-day moving average price of $23.76 and a 200 day moving average price of $23.41.

Adams Natural Resources Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 17.25%. The ex-dividend date is Friday, November 22nd. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16.

Insider Transactions at Adams Natural Resources Fund

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. bought 13,785 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $22.76 per share, with a total value of $313,746.60. Following the completion of the transaction, the insider now directly owns 2,853,687 shares in the company, valued at approximately $64,949,916.12. This represents a 0.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 42,045 shares of company stock valued at $953,608 over the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Adams Natural Resources Fund

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

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.