Adams Natural Resources Fund (NYSE:PEO) Reaches New 1-Year High – Here’s Why

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.63 and last traded at $29.50, with a volume of 32993 shares. The stock had previously closed at $29.20.

Adams Natural Resources Fund Stock Performance

The business’s 50-day simple moving average is $27.13 and its two-hundred day simple moving average is $26.53.

Adams Natural Resources Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, July 27th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, July 27th. This is an increase from Adams Natural Resources Fund’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 7.3%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEO. Comerica Bank raised its stake in shares of Adams Natural Resources Fund by 38.1% during the first quarter. Comerica Bank now owns 1,859 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 513 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Adams Natural Resources Fund by 843.9% in the 1st quarter. Jones Financial Companies Lllp now owns 42,921 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 38,374 shares during the period. Focus Partners Wealth raised its stake in Adams Natural Resources Fund by 8.9% during the 1st quarter. Focus Partners Wealth now owns 16,950 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 1,380 shares during the period. First Trust Advisors LP lifted 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 valued at $1,337,000 after purchasing an additional 5,204 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position 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 period. 33.54% of the stock is owned by institutional investors and hedge funds.

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.