Adams Natural Resources Fund (NYSE:PEO) Sees Unusually-High Trading Volume – Here’s Why

Adams Natural Resources Fund, Inc. (NYSE:PEO) saw unusually-high trading volume on Friday . Approximately 118,651 shares were traded during trading, an increase of 198% from the previous session’s volume of 39,792 shares.The stock last traded at $22.42 and had previously closed at $22.98.

Adams Natural Resources Fund Stock Down 2.3 %

The stock has a 50 day simple moving average of $23.87 and a 200-day simple moving average of $23.41.

Adams Natural Resources Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 22nd will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 18.35%. The ex-dividend date is Friday, November 22nd. 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 16,514 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $22.85 per share, for a total transaction of $377,344.90. Following the completion of the transaction, the insider now owns 2,888,924 shares in the company, valued at approximately $66,011,913.40. The trade was a 0.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 27,990 shares of company stock valued at $633,787 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Adams Natural Resources Fund by 241.1% during 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 during the period. Searle & CO. bought a new stake in shares of Adams Natural Resources Fund in the 2nd quarter worth about $201,000. Simplicity Wealth LLC purchased a new position in shares of Adams Natural Resources Fund during the 2nd quarter worth about $203,000. Miracle Mile Advisors LLC bought a new position in Adams Natural Resources Fund during the 2nd quarter valued at about $338,000. Finally, Advisors Asset Management Inc. purchased a new stake in Adams Natural Resources Fund in the 3rd quarter worth about $360,000. 33.54% of the stock is owned by institutional investors.

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.