Adams Natural Resources Fund (NYSE:PEO) Sees Large Volume Increase

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares saw unusually-strong trading volume on Friday . Approximately 10,689 shares traded hands during trading, a decline of 71% from the previous session’s volume of 37,085 shares.The stock last traded at $22.80 and had previously closed at $22.73.

Adams Natural Resources Fund Stock Performance

The company has a fifty day moving average price of $23.35 and a 200-day moving average price of $22.90.

Adams Natural Resources Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 9.42%. This is a positive change from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, August 5th.

Insider Activity at Adams Natural Resources Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 30,234 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $22.79 per share, with a total value of $689,032.86. Following the purchase, the insider now owns 2,604,860 shares of the company’s stock, valued at $59,364,759.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 197,071 shares of company stock valued at $4,620,215. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Adams Natural Resources Fund

A number of institutional investors and hedge funds have recently modified their holdings of PEO. Northwestern Mutual Wealth Management Co. boosted its stake in Adams Natural Resources Fund by 241.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider’s stock valued at $76,000 after buying an additional 2,283 shares in the last quarter. Searle & CO. acquired a new stake in Adams Natural Resources Fund in the 2nd quarter valued at $201,000. Simplicity Wealth LLC acquired a new stake in Adams Natural Resources Fund in the 2nd quarter valued at $203,000. Vantage Financial Partners LLC acquired a new stake in Adams Natural Resources Fund in the 1st quarter valued at $201,000. Finally, Miracle Mile Advisors LLC acquired a new stake in Adams Natural Resources Fund in the 2nd quarter valued at $338,000. 33.54% of the stock is currently owned by institutional investors.

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.