Advisors Asset Management Inc. Acquires Shares of 15,503 Adams Natural Resources Fund, Inc. (NYSE:PEO)

Advisors Asset Management Inc. bought a new position in Adams Natural Resources Fund, Inc. (NYSE:PEO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,503 shares of the financial services provider’s stock, valued at approximately $360,000.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Adams Natural Resources Fund by 241.1% during 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 acquiring an additional 2,283 shares during the period. Searle & CO. acquired a new stake in shares of Adams Natural Resources Fund in the second quarter valued at $201,000. Simplicity Wealth LLC bought a new position in shares of Adams Natural Resources Fund in the second quarter valued at about $203,000. Miracle Mile Advisors LLC acquired a new position in Adams Natural Resources Fund during the 2nd quarter worth about $338,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Adams Natural Resources Fund by 1,206.2% during the third quarter. Wolverine Asset Management LLC now owns 24,086 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 22,242 shares in the last quarter. 33.54% of the stock is owned by institutional investors and hedge funds.

Adams Natural Resources Fund Price Performance

Shares of Adams Natural Resources Fund stock opened at $23.59 on Friday. The firm has a 50 day simple moving average of $23.85 and a 200 day simple moving average of $23.42. Adams Natural Resources Fund, Inc. has a fifty-two week low of $19.78 and a fifty-two week high of $24.79.

Adams Natural Resources Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.03 per share. The ex-dividend date is Friday, November 22nd. This is an increase 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 17.47%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 10,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $22.19 per share, for a total transaction of $232,462.44. Following the completion of the acquisition, the insider now owns 2,864,659 shares of the company’s stock, valued at $63,566,783.21. This trade represents a 0.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders have acquired 41,945 shares of company stock valued at $951,310. 0.06% of the stock is currently owned by insiders.

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.