Adams Natural Resources Fund (NYSE:PEO) Hits New 12-Month High - Here's Why

Key Points

• Adams Natural Resources Fund reached a new 52-week high, trading as high as $32.52 before last changing hands at $30.42, up 1.4% from the prior close.
• The fund’s share price is above both its 50-day moving average of $28.89 and 200-day moving average of $26.71, signaling recent upward momentum.
• Institutional investors own 33.54% of the fund, with several firms recently increasing their positions, including PNC Financial Services and Community Financial Services Group.

Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) reached a new 52-week high on Friday. The company traded as high as $32.52 and last traded at $30.42, with a volume of 10,229 shares trading hands. The stock had previously closed at $29.97.

Adams Natural Resources Fund Stock Up 1.4%

The stock has a fifty day moving average of $28.89 and a 200-day moving average of $26.71.

Hedge Funds Weigh In On Adams Natural Resources Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Uncommon Cents Investing Inc grew its holdings in shares of Adams Natural Resources Fund by 1.0% during the third quarter. Uncommon Cents Investing Inc now owns 62,064 shares of the financial services provider's stock valued at $1,709,000 after buying an additional 595 shares during the last quarter. PNC Financial Services Group Inc. grew its position in 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. Community Financial Services Group LLC raised its holdings in Adams Natural Resources Fund by 175.0% in the 3rd quarter. Community Financial Services Group LLC now owns 1,100 shares of the financial services provider's stock worth $30,000 after purchasing an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Adams Natural Resources Fund during the 2nd quarter valued at about $35,000. Finally, Bank of America Corp DE boosted its holdings in Adams Natural Resources Fund by 0.9% in the 1st quarter. Bank of America Corp DE now owns 124,273 shares of the financial services provider's stock worth $3,455,000 after buying an additional 1,107 shares during the period. 33.54% of the stock is owned by institutional investors.

About Adams Natural Resources Fund

Adams Natural Resources Fund NYSE: PEO is a diversified closed-end investment company focused on the energy and natural resources sectors. The fund seeks long-term capital appreciation and income by investing primarily in publicly traded companies involved in the exploration, production, processing, transportation and distribution of energy and other natural resources.

Its portfolio may include companies engaged in oil and natural gas, renewable and alternative energy, mining, metals, chemicals, utilities, equipment manufacturing and related services.

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