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

Adams Natural Resources Fund, Inc. (NYSE:PEO)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.55 and traded as high as $21.78. Adams Natural Resources Fund shares last traded at $21.77, with a volume of 25,642 shares trading hands.

Adams Natural Resources Fund Stock Down 0.1%

The stock’s fifty day moving average is $21.55 and its two-hundred day moving average is $21.55.

Adams Natural Resources Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were paid a $0.49 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.96 annualized dividend and a yield of 9.0%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Adams Natural Resources Fund during the 3rd quarter worth $48,000. Verition Fund Management LLC lifted its holdings in Adams Natural Resources Fund by 15.8% during the third quarter. Verition Fund Management LLC now owns 145,791 shares of the financial services provider’s stock valued at $3,137,000 after purchasing an additional 19,870 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Adams Natural Resources Fund by 58.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 4,436 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,635 shares during the period. Bank of America Corp DE boosted its holdings in shares of Adams Natural Resources Fund by 1.5% in the third quarter. Bank of America Corp DE now owns 122,825 shares of the financial services provider’s stock worth $2,643,000 after acquiring an additional 1,837 shares during the period. Finally, Creative Planning grew its holdings in Adams Natural Resources Fund by 8.6% during the 3rd quarter. Creative Planning now owns 10,302 shares of the financial services provider’s stock valued at $222,000 after buying an additional 813 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company’s stock.

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.