Adams Natural Resources Fund (NYSE:PEO) Shares Gap Down – Should You Sell?

Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) 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 firm has a 50-day moving average price of $23.71 and a two-hundred day moving average price of $23.41.

Adams Natural Resources Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 22nd will be issued a dividend of $1.03 per share. This is a positive change from Adams Natural Resources Fund’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, November 22nd. This represents a $4.12 dividend on an annualized basis and a yield of 17.26%.

Insider Buying and Selling at Adams Natural Resources Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 16,514 shares of Adams Natural Resources Fund stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $22.85 per share, for a total transaction of $377,344.90. Following the acquisition, the insider now directly owns 2,888,924 shares of the company’s stock, valued at $66,011,913.40. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 42,045 shares of company stock valued at $953,608 in the last three months. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Adams Natural Resources Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC purchased a new stake in Adams Natural Resources Fund in the second quarter worth about $203,000. Whitener Capital Management Inc. boosted its stake in shares of Adams Natural Resources Fund by 3.8% during the second quarter. Whitener Capital Management Inc. now owns 73,947 shares of the financial services provider’s stock valued at $1,746,000 after purchasing an additional 2,692 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Adams Natural Resources Fund during the second quarter valued at approximately $338,000. Searle & CO. purchased a new position in Adams Natural Resources Fund during the second quarter valued at approximately $201,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in Adams Natural Resources Fund by 25.6% in the second 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. Institutional investors own 33.54% of the company’s stock.

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.