Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) saw an uptick in trading volume on Friday . 118,651 shares were traded during trading, an increase of 198% from the previous session's volume of 39,792 shares.The stock last traded at $22.42 and had previously closed at $22.98.
Adams Natural Resources Fund Stock Down 2.4 %
The company's fifty day simple moving average is $23.88 and its two-hundred day simple moving average is $23.42.
Adams Natural Resources Fund Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 22nd will be given a dividend of $1.03 per share. This is a boost from Adams Natural Resources Fund's previous quarterly dividend of $0.16. The ex-dividend date is Friday, November 22nd. This represents a $4.12 annualized dividend and a dividend yield of 18.38%.
Insider Activity
In related news, major shareholder Saba Capital Management, L.P. bought 10,476 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $22.19 per share, for a total transaction of $232,462.44. Following the completion of the transaction, the insider now owns 2,864,659 shares of the company's stock, 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 the SEC website. Insiders have bought 27,990 shares of company stock valued at $633,787 in the last 90 days. Insiders own 0.06% of the company's stock.
Institutional Investors Weigh In On Adams Natural Resources Fund
A number of institutional investors have recently modified their holdings of PEO. Adams Diversified Equity Fund Inc. raised its holdings in shares of Adams Natural Resources Fund by 2.4% in the third quarter. Adams Diversified Equity Fund Inc. now owns 2,238,679 shares of the financial services provider's stock valued at $51,982,000 after buying an additional 51,905 shares during the last quarter. Pathstone Holdings LLC boosted its position in Adams Natural Resources Fund by 149.9% during the third quarter. Pathstone Holdings LLC now owns 291,504 shares of the financial services provider's stock worth $6,771,000 after acquiring an additional 174,866 shares during the last quarter. Raymond James & Associates raised its stake in shares of Adams Natural Resources Fund by 3.7% in the 3rd quarter. Raymond James & Associates now owns 216,439 shares of the financial services provider's stock valued at $5,026,000 after acquiring an additional 7,727 shares during the period. Whitener Capital Management Inc. increased its stake in Adams Natural Resources Fund by 0.7% during the 3rd quarter. Whitener Capital Management Inc. now owns 74,478 shares of the financial services provider's stock worth $1,729,000 after buying an additional 531 shares during the period. Finally, Stifel Financial Corp grew its holdings in Adams Natural Resources Fund by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 74,260 shares of the financial services provider's stock worth $1,724,000 after acquiring an additional 1,582 shares in the last quarter. 33.54% of the stock is currently owned by institutional investors and hedge funds.
About Adams Natural Resources Fund
(
Get Free Report)
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.
See Also
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