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 reached a new 52-week high during trading on Thursday . The stock traded as high as $24.53 and last traded at $24.47, with a volume of 4350 shares trading hands. The stock had previously closed at $24.36.

Adams Natural Resources Fund Trading Up 0.6 %

The company has a fifty 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 announced 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. The ex-dividend date of this dividend is Friday, November 22nd. 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 dividend yield of 17.25%.

Insider Activity

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. acquired 16,514 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $22.85 per share, with a total value of $377,344.90. Following the acquisition, the insider now directly owns 2,888,924 shares of the company’s stock, valued at $66,011,913.40. This represents a 0.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 42,045 shares of company stock valued at $953,608. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEO. Pathstone Holdings LLC grew its holdings in Adams Natural Resources Fund by 149.9% in the 3rd quarter. Pathstone Holdings LLC now owns 291,504 shares of the financial services provider’s stock worth $6,771,000 after buying an additional 174,866 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Adams Natural Resources Fund in the 3rd quarter worth approximately $1,247,000. Adams Diversified Equity Fund Inc. grew its holdings in Adams Natural Resources Fund by 2.4% in the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 2,238,679 shares of the financial services provider’s stock worth $51,982,000 after buying an additional 51,905 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in Adams Natural Resources Fund by 1,206.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 24,086 shares of the financial services provider’s stock worth $559,000 after buying an additional 22,242 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Adams Natural Resources Fund in the 3rd quarter worth approximately $360,000. 33.54% of the stock is owned by institutional investors.

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.