Adams Natural Resources Fund, Inc. (NYSE:PEO) Shares Sold by Cornerstone Advisors LLC

Key Points

• Cornerstone Advisors LLC reduced its stake in Adams Natural Resources Fund by 66.2%, owning approximately $413,000 worth of shares after selling 35,474 shares in the first quarter.
• Adams Natural Resources Fund announced an increase in its dividend to $0.51 per share, which represents a yield of 931.0%, to be paid on August 26th.
• The firm has recently experienced varied institutional investment activity, with Adams Diversified Equity Fund increasing its stake by 2.4%, now owning shares worth $54,658,000.

Cornerstone Advisors LLC reduced its position in Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report) by 66.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,099 shares of the financial services provider's stock after selling 35,474 shares during the quarter. Cornerstone Advisors LLC owned about 0.07% of Adams Natural Resources Fund worth $413,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Cetera Investment Advisers boosted its holdings in shares of Adams Natural Resources Fund by 23.1% in the first quarter. Cetera Investment Advisers now owns 25,598 shares of the financial services provider's stock valued at $584,000 after acquiring an additional 4,802 shares during the period. Kovack Advisors Inc. boosted its holdings in shares of Adams Natural Resources Fund by 9.2% in the first quarter. Kovack Advisors Inc. now owns 24,842 shares of the financial services provider's stock valued at $567,000 after acquiring an additional 2,102 shares during the period. Burney Co. acquired a new stake in shares of Adams Natural Resources Fund in the first quarter valued at approximately $632,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Adams Natural Resources Fund by 9.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 112,985 shares of the financial services provider's stock valued at $2,577,000 after acquiring an additional 9,730 shares during the period. Finally, Whitener Capital Management Inc. boosted its holdings in shares of Adams Natural Resources Fund by 5.3% in the first quarter. Whitener Capital Management Inc. now owns 76,715 shares of the financial services provider's stock valued at $1,750,000 after acquiring an additional 3,848 shares during the period. 33.54% of the stock is owned by institutional investors and hedge funds.

Adams Natural Resources Fund Price Performance

Shares of NYSE PEO traded down $0.03 during mid-day trading on Friday, hitting $20.80. 28,341 shares of the company were exchanged, compared to its average volume of 80,542. The stock has a 50 day simple moving average of $21.50 and a 200-day simple moving average of $21.37. Adams Natural Resources Fund, Inc. has a 1-year low of $18.34 and a 1-year high of $24.79.

Adams Natural Resources Fund Increases Dividend

The business also recently declared a -- dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, July 28th will be issued a dividend of $0.51 per share. This is a boost from Adams Natural Resources Fund's previous -- dividend of $0.16. This represents a dividend yield of 931.0%. The ex-dividend date of this dividend is Monday, July 28th.

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.