Adams Natural Resources Fund (NYSE:PEO) Hits New 12-Month High – Here’s Why

Shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $26.29 and last traded at $25.9450, with a volume of 7884 shares trading hands. The stock had previously closed at $25.87.

Adams Natural Resources Fund Trading Up 0.2%

The firm’s fifty day moving average price is $23.78 and its 200-day moving average price is $22.30.

Adams Natural Resources Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, January 26th were given a $0.49 dividend. The ex-dividend date was Monday, January 26th. This represents a $1.96 annualized dividend and a yield of 7.6%.

Hedge Funds Weigh In On Adams Natural Resources Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEO. Saba Capital Management L.P. increased its position in Adams Natural Resources Fund by 0.4% in the 4th quarter. Saba Capital Management L.P. now owns 2,698,250 shares of the financial services provider’s stock valued at $58,660,000 after acquiring an additional 10,926 shares during the period. Adams Diversified Equity Fund Inc. grew its stake in shares of Adams Natural Resources Fund by 2.3% in the fourth quarter. Adams Diversified Equity Fund Inc. now owns 2,572,684 shares of the financial services provider’s stock worth $55,930,000 after purchasing an additional 56,682 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Adams Natural Resources Fund by 23.4% during the third quarter. Lazard Asset Management LLC now owns 510,075 shares of the financial services provider’s stock valued at $10,977,000 after purchasing an additional 96,622 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in 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 worth $5,861,000 after purchasing an additional 60,228 shares during the period. Finally, Pathstone Holdings LLC lifted its holdings in Adams Natural Resources Fund by 28.2% in the third quarter. Pathstone Holdings LLC now owns 264,520 shares of the financial services provider’s stock worth $5,692,000 after purchasing an additional 58,231 shares during the period. 33.54% of the stock is owned by 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.