Adams Natural Resources Fund (NYSE:PEO) Shares Gap Down – Here’s What Happened

Adams Natural Resources Fund, Inc. (NYSE:PEO) gapped down before the market opened 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 business has a 50-day moving average of $23.71 and a two-hundred day moving average of $23.41.

Adams Natural Resources Fund Increases Dividend

The company also recently declared a quarterly 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 boost from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. This represents a $4.12 dividend on an annualized basis and a dividend yield of 17.26%. The ex-dividend date is Friday, November 22nd.

Insider Transactions at Adams Natural Resources Fund

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. acquired 10,476 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $22.19 per share, with a total value of $232,462.44. Following the transaction, the insider now directly owns 2,864,659 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink. Insiders have bought a total of 42,045 shares of company stock valued at $953,608 in the last 90 days. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in Adams Natural Resources Fund by 2.2% in the third 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. Capstone Investment Advisors LLC purchased a new position in shares of Adams Natural Resources Fund in the 3rd quarter valued at approximately $1,247,000. D.A. Davidson & CO. raised its position in shares of Adams Natural Resources Fund by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 64,107 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 715 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Adams Natural Resources Fund in the 3rd quarter worth approximately $360,000. Finally, Pathstone Holdings LLC grew its position in Adams Natural Resources Fund by 149.9% during the 3rd quarter. Pathstone Holdings LLC now owns 291,504 shares of the financial services provider’s stock worth $6,771,000 after purchasing an additional 174,866 shares during the last quarter. 33.54% of the stock is owned by institutional investors and hedge funds.

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.