Adams Natural Resources Fund (NYSE:PEO) Sets New 52-Week High at $24.44

Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) reached a new 52-week high on Wednesday . The stock traded as high as $24.44 and last traded at $24.44, with a volume of 5109 shares traded. The stock had previously closed at $24.24.

Adams Natural Resources Fund Trading Up 0.9 %

The business’s fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $22.61.

Adams Natural Resources Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Monday, August 5th. This is a boost from Adams Natural Resources Fund’s previous quarterly dividend of $0.16.

Insider Activity at Adams Natural Resources Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 30,234 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of $22.79 per share, for a total transaction of $689,032.86. Following the acquisition, the insider now directly owns 2,604,860 shares of the company’s stock, valued at approximately $59,364,759.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 187,208 shares of company stock worth $4,382,122 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Adams Natural Resources Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PEO. Searle & CO. purchased a new position in shares of Adams Natural Resources Fund in the second quarter valued at $201,000. Miracle Mile Advisors LLC acquired a new stake in shares of Adams Natural Resources Fund in the second quarter valued at approximately $338,000. Whitener Capital Management Inc. raised its position in shares of Adams Natural Resources Fund by 3.8% during the 2nd quarter. Whitener Capital Management Inc. now owns 73,947 shares of the financial services provider’s stock worth $1,746,000 after purchasing an additional 2,692 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in Adams Natural Resources Fund in the 2nd quarter valued at approximately $203,000. Finally, Vantage Financial Partners LLC acquired a new stake in Adams Natural Resources Fund during the 1st quarter valued at $201,000. 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.