Adams Natural Resources Fund (NYSE:PEO) Reaches New 1-Year High – Still a Buy?

Adams Natural Resources Fund, Inc. (NYSE:PEO) reached a new 52-week high during trading on Thursday . The company traded as high as $26.28 and last traded at $26.04, with a volume of 19680 shares changing hands. The stock had previously closed at $25.83.

Adams Natural Resources Fund Stock Up 0.9%

The firm has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $22.10.

Adams Natural Resources Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, January 26th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Monday, January 26th.

Hedge Funds Weigh In On Adams Natural Resources Fund

Large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC lifted its position in shares of Adams Natural Resources Fund by 28.4% in the third quarter. Penserra Capital Management LLC now owns 272,359 shares of the financial services provider’s stock valued at $5,861,000 after acquiring an additional 60,228 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Adams Natural Resources Fund by 47.0% during the third quarter. Advisors Asset Management Inc. now owns 67,376 shares of the financial services provider’s stock worth $1,450,000 after purchasing an additional 21,554 shares during the last quarter. Adams Diversified Equity Fund Inc. grew its position in shares of Adams Natural Resources Fund by 2.4% in the third quarter. Adams Diversified Equity Fund Inc. now owns 2,516,002 shares of the financial services provider’s stock valued at $54,144,000 after purchasing an additional 59,821 shares during the period. Wolverine Asset Management LLC grew its holdings in Adams Natural Resources Fund by 123.5% in the second quarter. Wolverine Asset Management LLC now owns 114,170 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 63,096 shares during the period. Finally, Roberts Glore & Co. Inc. IL grew its holdings in shares of Adams Natural Resources Fund by 21.0% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 26,682 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 4,634 shares during the period. 33.54% of the stock is currently owned by institutional investors and hedge funds.

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.