Royal Bank of Canada Sells 92,722 Shares of Adams Natural Resources Fund, Inc. $PEO

Key Points

• Royal Bank of Canada cut its Adams Natural Resources Fund stake by 17.9%, selling 92,722 shares and retaining 426,717 shares valued at approximately $11.9 million.
• Other institutional investors generally increased their positions, while institutional ownership of Adams Natural Resources Fund stood at 33.54%.
• The fund’s shares opened at $26.37, down 0.2%, and it raised its quarterly dividend to $0.54 per share, implying an annualized yield of about 8.2%.

Royal Bank of Canada reduced its stake in Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 426,717 shares of the financial services provider's stock after selling 92,722 shares during the period. Royal Bank of Canada owned about 1.55% of Adams Natural Resources Fund worth $11,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FCA Corp TX increased its position in Adams Natural Resources Fund by 5.2% during the 1st quarter. FCA Corp TX now owns 118,306 shares of the financial services provider's stock worth $3,289,000 after purchasing an additional 5,819 shares in the last quarter. Cetera Investment Advisers boosted its position in Adams Natural Resources Fund by 9.9% in the first quarter. Cetera Investment Advisers now owns 29,673 shares of the financial services provider's stock valued at $825,000 after buying an additional 2,663 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Adams Natural Resources Fund by 8.7% during the first quarter. First Trust Advisors LP now owns 77,470 shares of the financial services provider's stock worth $2,154,000 after buying an additional 6,175 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Adams Natural Resources Fund by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,550 shares of the financial services provider's stock worth $71,000 after buying an additional 600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Adams Natural Resources Fund by 10.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,967 shares of the financial services provider's stock worth $583,000 after buying an additional 2,000 shares in the last quarter. 33.54% of the stock is owned by institutional investors.

Adams Natural Resources Fund Trading Down 0.2%

Shares of NYSE:PEO opened at $26.37 on Friday. Adams Natural Resources Fund, Inc. has a 52-week low of $20.57 and a 52-week high of $28.88. The company has a fifty day moving average of $25.79 and a 200-day moving average of $25.95.

Adams Natural Resources Fund Increases Dividend

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

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.

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