Adams Natural Resources Fund (NYSE:PEO) Shares Gap Down – Time to Sell?

Adams Natural Resources Fund, Inc. (NYSE:PEO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $24.76, but opened at $23.79. Adams Natural Resources Fund shares last traded at $23.80, with a volume of 11,445 shares changing hands.

Adams Natural Resources Fund Stock Performance

The firm’s 50-day moving average is $23.79 and its 200 day moving average is $23.42.

Adams Natural Resources Fund Increases Dividend

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

Insider Activity at Adams Natural Resources Fund

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. bought 10,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $22.19 per share, with a total value of $232,462.44. Following the transaction, the insider now owns 2,864,659 shares in the company, valued at $63,566,783.21. This trade represents a 0.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 42,045 shares of company stock worth $953,608. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several institutional investors have recently bought and sold shares of PEO. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Adams Natural Resources Fund by 241.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 2,283 shares in the last quarter. Searle & CO. acquired a new position in shares of Adams Natural Resources Fund during the second quarter worth about $201,000. Simplicity Wealth LLC purchased a new stake in shares of Adams Natural Resources Fund in the second quarter worth about $203,000. Miracle Mile Advisors LLC acquired a new stake in shares of Adams Natural Resources Fund in the second quarter valued at about $338,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Adams Natural Resources Fund during the 3rd quarter valued at about $360,000. 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.