Adams Natural Resources Fund (NYSE:PEO) Shares Gap Down - Should You Sell?

Key Points

• Adams Natural Resources Fund shares gapped down from a prior close of $27.61 to open at $26.64, later trading at $26.90. The price remains above its 50-day and 200-day moving averages, both near $25.70.
• The fund increased its quarterly dividend to $0.54 per share, or $2.16 annualized, representing an approximately 8.0% yield. The dividend is payable August 26 to shareholders of record as of July 27.
• Institutional ownership stands at 33.54%, with several financial firms recently adding to their positions, including Comerica Bank and PNC Financial Services Group.

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $27.61, but opened at $26.64. Adams Natural Resources Fund shares last traded at $26.90, with a volume of 10,371 shares changing hands.

Adams Natural Resources Fund Price Performance

The company's 50-day moving average price is $25.73 and its 200 day moving average price is $25.69.

Adams Natural Resources Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, July 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Adams Natural Resources Fund's previous quarterly dividend of $0.52.

Institutional Investors Weigh In On Adams Natural Resources Fund

Several hedge funds have recently made changes to their positions in the company. Evolve Private Wealth LLC raised its holdings in Adams Natural Resources Fund by 1.9% in the first quarter. Evolve Private Wealth LLC now owns 25,824 shares of the financial services provider's stock worth $718,000 after purchasing an additional 491 shares in the last quarter. Comerica Bank boosted its stake in 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 worth $42,000 after acquiring an additional 513 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Adams Natural Resources Fund by 4.7% during the second quarter. NewEdge Advisors LLC now owns 12,600 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 567 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 valued at $71,000 after purchasing an additional 600 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Adams Natural Resources Fund by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,628 shares of the financial services provider's stock valued at $1,334,000 after purchasing an additional 608 shares during the last quarter. 33.54% of the stock is currently owned by institutional investors.

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.

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.