Adams Natural Resources Fund (NYSE:PEO) Reaches New 12-Month High – Still a Buy?

Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.90 and last traded at $23.8540, with a volume of 20558 shares traded. The stock had previously closed at $23.47.

Adams Natural Resources Fund Stock Up 1.1%

The firm has a fifty day moving average price of $22.00 and a 200-day moving average price of $21.69.

Adams Natural Resources Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Monday, January 26th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Monday, January 26th.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several institutional investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in shares of Adams Natural Resources Fund in the third quarter valued at about $32,000. Hilltop National Bank purchased a new stake in Adams Natural Resources Fund in the second quarter valued at approximately $36,000. Comerica Bank increased its holdings in Adams Natural Resources Fund by 38.1% in the 1st 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 period. Advisory Services Network LLC purchased a new position in Adams Natural Resources Fund during the 3rd quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. lifted its stake in Adams Natural Resources Fund by 45.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,572 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 801 shares during the period. 33.54% of the stock is owned by hedge funds and other institutional investors.

Adams Natural Resources Fund Company 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.