Adams Natural Resources Fund (NYSE:PEO) Sets New 1-Year High - What's Next?

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . 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.

Adams Natural Resources Fund Price Performance

The stock's 50-day simple moving average is $23.53 and its 200 day simple moving average is $23.37.

Adams Natural Resources Fund Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend of $0.16. The ex-dividend date of this dividend is Friday, November 22nd.

Insiders Place Their Bets

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. acquired 16,514 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $22.85 per share, for a total transaction of $377,344.90. Following the completion of the acquisition, the insider now owns 2,888,924 shares of the company's stock, valued at approximately $66,011,913.40. This trade represents a 0.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 53,103 shares of company stock worth $1,204,624 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PEO. Adams Diversified Equity Fund Inc. boosted its stake in shares of 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 valued at $51,982,000 after buying an additional 51,905 shares during the period. Wolverine Asset Management LLC grew its holdings in Adams Natural Resources Fund by 1,206.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 24,086 shares of the financial services provider's stock worth $559,000 after acquiring an additional 22,242 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of Adams Natural Resources Fund by 25.6% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 51,918 shares of the financial services provider's stock valued at $1,226,000 after purchasing an additional 10,593 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Adams Natural Resources Fund in the 2nd quarter valued at $203,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Adams Natural Resources Fund during the 2nd quarter worth $338,000. 33.54% of the stock is 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.