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

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares gapped down prior to trading on Monday . The stock had previously closed at $27.61, but opened at $26.64. Adams Natural Resources Fund shares last traded at $26.90, with a volume of 10,371 shares.

Adams Natural Resources Fund Stock Performance

The company has a fifty day simple moving average of $25.71 and a 200-day simple moving average of $25.76.

Adams Natural Resources Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, July 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 8.2%. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, July 27th.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its stake in Adams Natural Resources Fund by 0.4% in the 4th quarter. Saba Capital Management L.P. now owns 2,698,250 shares of the financial services provider’s stock worth $58,660,000 after purchasing an additional 10,926 shares during the period. Adams Diversified Equity Fund Inc. raised its stake in Adams Natural Resources Fund by 1.9% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 2,621,907 shares of the financial services provider’s stock valued at $72,889,000 after purchasing an additional 49,223 shares during the period. Lazard Asset Management LLC raised its stake in Adams Natural Resources Fund by 23.4% during the 3rd quarter. Lazard Asset Management LLC now owns 510,075 shares of the financial services provider’s stock valued at $10,977,000 after purchasing an additional 96,622 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Adams Natural Resources Fund by 28.2% in the third quarter. Pathstone Holdings LLC now owns 264,520 shares of the financial services provider’s stock valued at $5,692,000 after purchasing an additional 58,231 shares in the last quarter. Finally, Intrepid Family Office LLC lifted its holdings in shares of Adams Natural Resources Fund by 2.3% in the fourth quarter. Intrepid Family Office LLC now owns 153,379 shares of the financial services provider’s stock valued at $3,334,000 after purchasing an additional 3,379 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company’s stock.

About Adams Natural Resources Fund

Adams Natural Resources Fund (NYSE: PEO) is a closed-end management investment company that seeks total return through a combination of capital appreciation and current income. Listed on the New York Stock Exchange, the fund offers investors a way to access a diversified portfolio of companies engaged in the natural resources and energy sectors without investing directly in individual stocks or commodities.

The fund primarily invests in equity securities, including common and preferred stocks, of companies involved in exploration, production, processing, and distribution of oil, natural gas, coal and alternative energy sources.