Cornerstone Advisors LLC Sells 302,738 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO)

Cornerstone Advisors LLC lowered its position in shares of Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report) by 85.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,573 shares of the financial services provider's stock after selling 302,738 shares during the period. Cornerstone Advisors LLC owned 0.21% of Adams Natural Resources Fund worth $1,244,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PEO. Simplicity Wealth LLC purchased a new position in Adams Natural Resources Fund during the second quarter valued at approximately $203,000. Whitener Capital Management Inc. grew its stake in Adams Natural Resources Fund by 3.8% in the 2nd quarter. Whitener Capital Management Inc. now owns 73,947 shares of the financial services provider's stock worth $1,746,000 after buying an additional 2,692 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Adams Natural Resources Fund in the 2nd quarter worth approximately $338,000. Searle & CO. purchased a new position in Adams Natural Resources Fund in the 2nd quarter worth approximately $201,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in 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 worth $1,226,000 after buying an additional 10,593 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company's stock.

Insiders Place Their Bets

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. acquired 16,514 shares of the business's stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $22.85 per share, with a total value of $377,344.90. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 42,045 shares of company stock valued at $953,608 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Adams Natural Resources Fund Price Performance

PEO stock traded down $0.87 during midday trading on Friday, reaching $23.89. The company had a trading volume of 42,522 shares, compared to its average volume of 39,327. Adams Natural Resources Fund, Inc. has a 1 year low of $19.78 and a 1 year high of $24.79. The firm has a 50-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 declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 22nd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 17.25%. The ex-dividend date is Friday, November 22nd. This is a boost from Adams Natural Resources Fund's previous quarterly dividend of $0.16.

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.