Adams Natural Resources Fund (NYSE:PEO) Reaches New 52-Week High - Still a Buy?

Key Points

• Adams Natural Resources Fund reached a new 52-week high, trading as high as $29.63 and recently at $29.50, above its previous close of $29.20.
• The fund increased its quarterly dividend to $0.54 per share, equating to an annualized payout of $2.16 and a 7.3% dividend yield.
• Institutional investors and hedge funds own 33.54% of PEO, with several major investors recently increasing or initiating positions in the fund.

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company 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 Price Performance

The company's 50-day moving average price is $27.13 and its 200-day moving average price is $26.53.

Adams Natural Resources Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, July 27th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.3%. This is a boost from Adams Natural Resources Fund's previous quarterly dividend of $0.52. The ex-dividend date was Monday, July 27th.

Hedge Funds Weigh In On Adams Natural Resources Fund

Several large investors have recently made changes to their positions in PEO. Saba Capital Management L.P. increased its holdings in Adams Natural Resources Fund by 0.4% during the 4th quarter. Saba Capital Management L.P. now owns 2,698,250 shares of the financial services provider's stock worth $58,660,000 after purchasing an additional 10,926 shares during the period. Adams Diversified Equity Fund Inc. boosted its holdings in Adams Natural Resources Fund by 1.9% during the first quarter. Adams Diversified Equity Fund Inc. now owns 2,621,907 shares of the financial services provider's stock worth $72,889,000 after buying an additional 49,223 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Adams Natural Resources Fund by 23.4% in the 3rd quarter. Lazard Asset Management LLC now owns 510,075 shares of the financial services provider's stock worth $10,977,000 after buying an additional 96,622 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Adams Natural Resources Fund in the second quarter worth $16,153,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Adams Natural Resources Fund during the 2nd quarter worth about $14,657,000. 33.54% of the stock is currently 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.

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