Wolverine Asset Management LLC Reduces Stake in Adams Natural Resources Fund, Inc. $PEO

Key Points

• Wolverine Asset Management cut its stake in Adams Natural Resources Fund by 70.6%, selling 109,615 shares in Q4 and leaving 45,551 shares (about 0.17% of the fund) valued at $990,000.
• The fund raised its quarterly dividend to $0.52 per share (annualized $2.08), a roughly 7.7% yield; the ex-dividend date is April 27 and the payment is scheduled for May 27.
• Other institutions increased holdings—most notably Jones Financial (+843.9% to 42,921 shares)—and roughly 33.54% of PEO is owned by hedge funds and other institutional investors.

Wolverine Asset Management LLC reduced its position in Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,551 shares of the financial services provider's stock after selling 109,615 shares during the period. Wolverine Asset Management LLC owned approximately 0.17% of Adams Natural Resources Fund worth $990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its holdings in shares of Adams Natural Resources Fund by 38.1% in the first quarter. Comerica Bank now owns 1,859 shares of the financial services provider's stock worth $42,000 after buying an additional 513 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Adams Natural Resources Fund by 843.9% in the first quarter. Jones Financial Companies Lllp now owns 42,921 shares of the financial services provider's stock worth $979,000 after buying an additional 38,374 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Adams Natural Resources Fund by 8.9% in the first quarter. Focus Partners Wealth now owns 16,950 shares of the financial services provider's stock worth $387,000 after buying an additional 1,380 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Adams Natural Resources Fund by 9.1% in the second quarter. First Trust Advisors LP now owns 62,564 shares of the financial services provider's stock worth $1,337,000 after buying an additional 5,204 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Adams Natural Resources Fund by 21.9% in the second quarter. Baird Financial Group Inc. now owns 32,961 shares of the financial services provider's stock worth $704,000 after buying an additional 5,915 shares during the last quarter. 33.54% of the stock is currently owned by hedge funds and other institutional investors.

Adams Natural Resources Fund Price Performance

PEO opened at $27.03 on Wednesday. The company's 50 day moving average is $26.61 and its 200 day moving average is $23.99. Adams Natural Resources Fund, Inc. has a 12-month low of $19.72 and a 12-month high of $28.88.

Adams Natural Resources Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Monday, April 27th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.7%. This is a boost from Adams Natural Resources Fund's previous quarterly dividend of $0.49. The ex-dividend date is Monday, April 27th.

Adams Natural Resources Fund Profile

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.

Want to see what other hedge funds are holding PEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.