Lazard Asset Management LLC Sells 71,431 Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO)

Lazard Asset Management LLC lowered its position in shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 579,459 shares of the financial services provider’s stock after selling 71,431 shares during the quarter. Lazard Asset Management LLC owned 2.27% of Adams Natural Resources Fund worth $13,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEO. Zazove Associates LLC purchased a new position in Adams Natural Resources Fund in the fourth quarter valued at approximately $37,000. Venturi Wealth Management LLC raised its stake in Adams Natural Resources Fund by 199.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,499 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,665 shares during the period. Vantage Financial Partners LLC purchased a new stake in Adams Natural Resources Fund during the first quarter valued at about $201,000. Flow State Investments L.P. bought a new position in Adams Natural Resources Fund during the fourth quarter worth about $304,000. Finally, Alta Capital Management LLC bought a new stake in shares of Adams Natural Resources Fund in the fourth quarter valued at approximately $413,000. Hedge funds and other institutional investors own 33.54% of the company’s stock.

Adams Natural Resources Fund Stock Up 1.0 %

PEO traded up $0.24 on Friday, hitting $24.03. The company’s stock had a trading volume of 21,014 shares, compared to its average volume of 36,064. Adams Natural Resources Fund, Inc. has a 12 month low of $19.78 and a 12 month high of $24.40. The company’s 50 day simple moving average is $23.36 and its 200-day simple moving average is $22.55.

Adams Natural Resources Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be given a dividend of $0.54 per share. The ex-dividend date is Monday, August 5th. This represents a $2.16 annualized dividend and a dividend yield of 8.99%. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.16.

Insider Transactions at Adams Natural Resources Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 7,549 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were acquired at an average price of $23.85 per share, with a total value of $180,043.65. Following the acquisition, the insider now owns 2,805,121 shares of the company’s stock, valued at approximately $66,902,135.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 188,278 shares of company stock valued at $4,406,796 over the last three months. Company insiders own 0.06% of the company’s stock.

Adams Natural Resources Fund 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.