Adams Natural Resources Fund (NYSE:PEO) Sets New 52-Week High - Here's What Happened

Key Points

• Adams Natural Resources Fund shares reached a new 52-week high, trading as high as $28.88 and last changing hands at $28.8010, above the prior close of $28.31.
• The fund increased its quarterly dividend to $0.54 per share, or $2.16 annually, representing a 7.5% yield.
• Institutional investors and hedge funds own 33.54% of the stock, with several firms increasing their positions during the first and second quarters.

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $28.88 and last traded at $28.8010, with a volume of 9610 shares traded. The stock had previously closed at $28.31.

Adams Natural Resources Fund Stock Performance

The stock's 50 day moving average is $26.51 and its two-hundred day moving average is $26.36.

Adams Natural Resources Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, July 27th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was 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 and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its position in shares of Adams Natural Resources Fund by 38.1% during the 1st quarter. Comerica Bank now owns 1,859 shares of the financial services provider's stock worth $42,000 after buying an additional 513 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Adams Natural Resources Fund by 843.9% during the first quarter. Jones Financial Companies Lllp now owns 42,921 shares of the financial services provider's stock worth $979,000 after buying an additional 38,374 shares during the period. Focus Partners Wealth grew its stake in shares of Adams Natural Resources Fund by 8.9% in the 1st quarter. Focus Partners Wealth now owns 16,950 shares of the financial services provider's stock valued at $387,000 after purchasing an additional 1,380 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Adams Natural Resources Fund by 9.1% during the second quarter. First Trust Advisors LP now owns 62,564 shares of the financial services provider's stock worth $1,337,000 after purchasing an additional 5,204 shares during the period. Finally, Baird Financial Group Inc. lifted its holdings in shares of Adams Natural Resources Fund by 21.9% during the second quarter. Baird Financial Group Inc. now owns 32,961 shares of the financial services provider's stock worth $704,000 after purchasing an additional 5,915 shares during the period. Institutional investors and hedge funds own 33.54% of the company's stock.

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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