Adams Natural Resources Fund (NYSE:PEO) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Adams Natural Resources Fund shares crossed above their 50-day moving average, reaching $28.72 before last trading at $28.36. The fund’s 50-day and 200-day moving averages were $26.23 and $26.26, respectively.
• The fund increased its quarterly dividend to $0.54 per share, up from $0.52, implying an annualized payout of $2.16 and a 7.6% yield.
• Institutional investors own 33.54% of PEO, with several firms recently increasing stakes or initiating new positions, including Lazard Asset Management, Diamond Hill Capital Management, and Bank of New York Mellon.

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $26.23 and traded as high as $28.72. Adams Natural Resources Fund shares last traded at $28.36, with a volume of 67,715 shares changing hands.

Adams Natural Resources Fund Price Performance

The business has a fifty day simple moving average of $26.23 and a two-hundred day simple moving average of $26.26.

Adams Natural Resources Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, July 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Adams Natural Resources Fund's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.6%.

Institutional Trading of Adams Natural Resources Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEO. Saba Capital Management L.P. boosted its stake in shares of 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 acquiring an additional 10,926 shares during the last quarter. Adams Diversified Equity Fund Inc. grew its position in shares of Adams Natural Resources Fund by 1.9% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 2,621,907 shares of the financial services provider's stock valued at $72,889,000 after acquiring an additional 49,223 shares during the period. Lazard Asset Management LLC increased its stake 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 purchasing an additional 96,622 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Adams Natural Resources Fund in the 2nd quarter worth $16,153,000. Finally, Bank of New York Mellon Corp bought a new position in Adams Natural Resources Fund in the 2nd quarter worth $14,657,000. 33.54% of the stock is owned by hedge funds and other institutional investors.

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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