Cornerstone Advisors LLC Sells 35,474 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO)

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

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. raised its position in Adams Natural Resources Fund by 114,200.0% in the first quarter. NBC Securities Inc. now owns 1,143 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,142 shares during the period. NewEdge Advisors LLC lifted its position in shares of Adams Natural Resources Fund by 13.6% during the 4th quarter. NewEdge Advisors LLC now owns 11,706 shares of the financial services provider's stock valued at $254,000 after buying an additional 1,405 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new stake in Adams Natural Resources Fund in the 1st quarter worth approximately $254,000. Concurrent Investment Advisors LLC bought a new stake in Adams Natural Resources Fund during the 1st quarter worth approximately $317,000. Finally, PFG Investments LLC purchased a new position in Adams Natural Resources Fund during the first quarter valued at approximately $327,000. 33.54% of the stock is owned by institutional investors.

Adams Natural Resources Fund Trading Up 0.2%

Adams Natural Resources Fund stock traded up $0.04 during mid-day trading on Thursday, hitting $20.83. The stock had a trading volume of 41,166 shares, compared to its average volume of 80,822. The firm's 50 day moving average is $21.49 and its 200 day moving average is $21.39. Adams Natural Resources Fund, Inc. has a one year low of $18.34 and a one year high of $24.79.

Adams Natural Resources Fund Increases Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, July 28th will be given a $0.51 dividend. This is an increase from Adams Natural Resources Fund's previous -- dividend of $0.16. This represents a dividend yield of 931.0%. The ex-dividend date is Monday, July 28th.

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.