Adams Natural Resources Fund (NYSE:PEO) Sets New 12-Month High After Dividend Announcement

Adams Natural Resources Fund, Inc. (NYSE:PEO)’s share price reached a new 52-week high during trading 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 trading hands. 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 issued a $1.03 dividend. This is a positive change from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. This represents a $4.12 annualized dividend and a yield of 17.02%. The ex-dividend date of this dividend is Friday, November 22nd.

Adams Natural Resources Fund Trading 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 at Adams Natural Resources Fund

In related news, major shareholder Saba Capital Management, L.P. bought 10,476 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were bought 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 approximately $63,566,783.21. This trade represents a 0.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 53,103 shares of company stock valued at $1,204,624 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Whitener Capital Management Inc. raised its stake in Adams Natural Resources Fund by 0.7% in the 3rd quarter. Whitener Capital Management Inc. now owns 74,478 shares of the financial services provider’s stock worth $1,729,000 after acquiring an additional 531 shares during the last quarter. Cullen Investment Group LTD. increased its holdings in shares of Adams Natural Resources Fund by 2.1% in 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 during the period. D.A. Davidson & CO. raised its stake in shares of Adams Natural Resources Fund by 1.1% in the third 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 during the last quarter. Stifel Financial Corp lifted its holdings in shares of Adams Natural Resources Fund by 2.2% during the third quarter. Stifel Financial Corp now owns 74,260 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 1,582 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $76,000 after buying an additional 2,283 shares during the last quarter. 33.54% of the stock is currently owned by institutional investors and hedge funds.

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.