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

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.85 and last traded at $27.7150, with a volume of 94873 shares. The stock had previously closed at $27.37.

Adams Natural Resources Fund Stock Up 1.3%

The firm has a 50 day simple moving average of $25.55 and a 200 day simple moving average of $23.01.

Adams Natural Resources Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, January 26th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Monday, January 26th.

Hedge Funds Weigh In On Adams Natural Resources Fund

Hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its stake in Adams Natural Resources Fund by 38.1% in the 1st quarter. Comerica Bank now owns 1,859 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 513 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Adams Natural Resources Fund by 843.9% during the 1st quarter. Jones Financial Companies Lllp now owns 42,921 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 38,374 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Adams Natural Resources Fund by 8.9% in the first quarter. Focus Partners Wealth now owns 16,950 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 1,380 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Adams Natural Resources Fund by 18.6% in the second quarter. Advisors Asset Management Inc. now owns 45,822 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 7,199 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Adams Natural Resources Fund by 9.1% in the second quarter. First Trust Advisors LP now owns 62,564 shares of the financial services provider’s stock worth $1,337,000 after buying an additional 5,204 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company’s stock.

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.