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

Key Points

• Adams Natural Resources Fund shares rose above their 50-day moving average, reaching $28.30 before last trading at $28.22. The 50-day average was $28.11, compared with a 200-day average of $26.82.
• The fund increased its quarterly dividend to $0.54 per share, up from $0.52, representing $2.16 in annualized dividends and a 7.7% yield.
• Institutional investors own 33.54% of the fund, with several major firms—including Diamond Hill, Bank of New York Mellon, and UBS—recently acquiring positions.

Adams Natural Resources Fund, Inc. (NYSE:PEO - Get Free Report) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $28.11 and traded as high as $28.30. Adams Natural Resources Fund shares last traded at $28.22, with a volume of 29,598 shares.

Adams Natural Resources Fund Trading Up 0.5%

The stock's 50-day simple moving average is $28.11 and its two-hundred day simple moving average is $26.82.

Adams Natural Resources Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, July 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 7.7%. 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 large investors have recently bought and sold shares of the company. Adams Diversified Equity Fund Inc. boosted its stake in shares of Adams Natural Resources Fund by 1.9% in 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 acquiring an additional 49,223 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Adams Natural Resources Fund during the second quarter worth about $16,153,000. Bank of New York Mellon Corp acquired a new position in shares of Adams Natural Resources Fund during the 2nd quarter worth approximately $14,657,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Adams Natural Resources Fund in the second quarter valued at approximately $8,515,000. Finally, Bank of America Corp DE grew its position in shares of Adams Natural Resources Fund by 0.9% in the first quarter. Bank of America Corp DE now owns 124,273 shares of the financial services provider's stock valued at $3,455,000 after purchasing an additional 1,107 shares in the last quarter. 33.54% of the stock is currently owned by hedge funds and other institutional investors.

About Adams Natural Resources Fund

Adams Natural Resources Fund NYSE: PEO is a closed-end investment company that seeks long-term growth of capital and income by investing primarily in companies involved in natural resources. Its portfolio generally focuses on energy, metals, mining, and other basic-materials businesses.

The fund provides investors with diversified exposure to the natural-resources sector through publicly traded companies. Its investments may include producers, developers, and service providers across areas such as oil and natural gas, precious and industrial metals, and other resource-related industries.

Adams Natural Resources Fund is managed by Adams Investment Management, an affiliated investment manager of Adams Funds.

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