Bank of New York Mellon Corp Invests $14.66 Million in Adams Natural Resources Fund, Inc. $PEO

Key Points

• Bank of New York Mellon acquired 317,532 shares of Adams Natural Resources Fund in the second quarter, worth approximately $14.66 million and representing about 1.15% of the fund.
• Institutional investors collectively own 33.54% of PEO, with several firms increasing their positions during the first and second quarters.
• PEO shares opened at $29.08, near their 52-week high, while the fund increased its quarterly dividend to $0.54 per share, implying an annualized yield of approximately 7.4%.

Bank of New York Mellon Corp acquired a new position in Adams Natural Resources Fund, Inc. (NYSE:PEO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 317,532 shares of the financial services provider's stock, valued at approximately $14,657,000. Bank of New York Mellon Corp owned approximately 1.15% of Adams Natural Resources Fund as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Evolve Private Wealth LLC lifted its position in shares of Adams Natural Resources Fund by 1.9% during the 1st quarter. Evolve Private Wealth LLC now owns 25,824 shares of the financial services provider's stock valued at $718,000 after buying an additional 491 shares during the last quarter. Comerica Bank grew its stake 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 valued at $42,000 after buying an additional 513 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Adams Natural Resources Fund by 4.7% in 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. increased its position 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 buying an additional 600 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings 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 worth $55,000 after acquiring an additional 801 shares during the period. Hedge funds and other institutional investors own 33.54% of the company's stock.

Adams Natural Resources Fund Trading Up 1.0%

Shares of Adams Natural Resources Fund stock opened at $29.08 on Wednesday. Adams Natural Resources Fund, Inc. has a 1 year low of $20.75 and a 1 year high of $29.14. The company has a 50 day simple moving average of $26.68 and a two-hundred day simple moving average of $26.40.

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 given a dividend of $0.54 per share. 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 7.4%. The ex-dividend date of this dividend was Monday, July 27th.

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.

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