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

Adams Natural Resources Fund, Inc. (NYSE:PEO) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.90 and last traded at $23.8540, with a volume of 20558 shares trading hands. The stock had previously closed at $23.47.

Adams Natural Resources Fund Stock Performance

The business has a 50 day moving average price of $21.91 and a 200-day moving average price of $21.65.

Adams Natural Resources Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Monday, January 26th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $1.96 annualized dividend and a yield of 8.2%.

Institutional Investors Weigh In On Adams Natural Resources Fund

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Adams Natural Resources Fund in the 4th quarter worth about $412,000. Cullen Investment Group LTD. grew its position in Adams Natural Resources Fund by 1.7% in the 4th quarter. Cullen Investment Group LTD. now owns 27,399 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 454 shares during the last quarter. Uhlmann Price Securities LLC increased its position in shares of Adams Natural Resources Fund by 2.5% during the fourth quarter. Uhlmann Price Securities LLC now owns 66,180 shares of the financial services provider’s stock valued at $1,439,000 after purchasing an additional 1,612 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Adams Natural Resources Fund by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,628 shares of the financial services provider’s stock worth $1,334,000 after purchasing an additional 608 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Adams Natural Resources Fund during the third quarter valued at $48,000. 33.54% of the stock is currently owned by hedge funds and other institutional investors.

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.