Adams Natural Resources Fund (NYSE:PEO) Sets New 52-Week High Following Dividend Announcement

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $24.68 and last traded at $24.68, with a volume of 500 shares changing hands. The stock had previously closed at $24.28.

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

Adams Natural Resources Fund Stock Down 0.3 %

The company has a fifty day moving average price of $23.57 and a two-hundred day moving average price of $23.38.

Insider Activity at Adams Natural Resources Fund

In other news, major shareholder Saba Capital Management, L.P. bought 16,514 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $22.85 per share, with a total value of $377,344.90. Following the transaction, the insider now directly owns 2,888,924 shares in the company, valued at approximately $66,011,913.40. This trade represents a 0.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 53,103 shares of company stock valued at $1,204,624. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PEO. 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 worth $76,000 after acquiring an additional 2,283 shares during the last quarter. Searle & CO. bought a new position in shares of Adams Natural Resources Fund during the 2nd quarter worth about $201,000. Simplicity Wealth LLC bought a new position in shares of Adams Natural Resources Fund during the 2nd quarter worth about $203,000. Miracle Mile Advisors LLC bought a new stake in shares of Adams Natural Resources Fund in the second quarter valued at about $338,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Adams Natural Resources Fund in the third quarter valued at about $360,000. 33.54% of the stock is owned by 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.