Adams Natural Resources Fund (NYSE:PEO) Shares Gap Down - Here's Why

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $24.76, but opened at $23.79. Adams Natural Resources Fund shares last traded at $23.80, with a volume of 11,445 shares traded.

Adams Natural Resources Fund Stock Performance

The stock has a 50-day moving average price of $23.79 and a two-hundred day moving average price of $23.42.

Adams Natural Resources Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 17.25%. This is an increase from Adams Natural Resources Fund's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, November 22nd.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 10,476 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $22.19 per share, for a total transaction of $232,462.44. Following the completion of the transaction, the insider now directly owns 2,864,659 shares in the company, valued at approximately $63,566,783.21. This trade represents a 0.37 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders acquired 42,045 shares of company stock worth $953,608. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEO. Northwestern Mutual Wealth Management Co. raised 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 valued at $76,000 after acquiring an additional 2,283 shares during the period. Searle & CO. bought a new position in shares of Adams Natural Resources Fund during the second quarter valued at approximately $201,000. Simplicity Wealth LLC bought a new position in shares of Adams Natural Resources Fund during the second quarter valued at approximately $203,000. Miracle Mile Advisors LLC bought a new stake in shares of Adams Natural Resources Fund during the 2nd quarter worth approximately $338,000. Finally, Advisors Asset Management Inc. purchased a new position in Adams Natural Resources Fund during the 3rd quarter valued at $360,000. Hedge funds and other institutional investors own 33.54% of the company's stock.

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.