Adams Natural Resources Fund (NYSE:PEO) Shares Pass Below 50-Day Moving Average - Time to Sell?

Key Points

• The shares of Adams Natural Resources Fund (NYSE:PEO) have crossed below their 50-day moving average of $21.48, closing at $20.92.
• Several hedge funds have recently increased their stakes in the fund, indicating institutional interest, with notable increases from Advisors Asset Management and Cetera Investment Advisers.
• Hedge funds and institutional investors now own approximately 33.54% of the company's stock, reflecting significant support in the investment community.

Adams Natural Resources Fund, Inc. (NYSE:PEO - )'s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $21.48 and traded as low as $20.81. Adams Natural Resources Fund shares last traded at $20.92, with a volume of 34,695 shares.

Adams Natural Resources Fund Trading Up 0.4%

The stock's 50-day moving average is $21.48 and its two-hundred day moving average is $21.08.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its holdings in Adams Natural Resources Fund by 56.9% during the 1st quarter. Advisors Asset Management Inc. now owns 38,623 shares of the financial services provider's stock worth $881,000 after buying an additional 14,005 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Adams Natural Resources Fund by 23.1% during the 1st quarter. Cetera Investment Advisers now owns 25,598 shares of the financial services provider's stock worth $584,000 after buying an additional 4,802 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Adams Natural Resources Fund by 4.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 62,146 shares of the financial services provider's stock worth $1,360,000 after buying an additional 2,370 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Adams Natural Resources Fund during the 1st quarter worth approximately $4,695,000. Finally, D.A. Davidson & CO. lifted its holdings in Adams Natural Resources Fund by 1.4% during the 1st quarter. D.A. Davidson & CO. now owns 64,895 shares of the financial services provider's stock worth $1,480,000 after buying an additional 921 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company's stock.

Adams Natural Resources Fund Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.