PEO: Deeply-Discounted Equity CEF For Energy And Natural Resource Exposure

With the discount to NAV close to 17%, buying shares of PEO is like buying dollars for $0.83, with strings attached. On the downside, it has underperformed the benchmarks since its inception. I expect the discount will likely persist unless PEO can start to outperform the benchmarks. On the plus side, the fund has a relatively low expense ratio and does not use leverage. PEO, or Adam's Natural Resources fund, is a closed-end fund with $607.5 million in net assets that trade at a substantial discount to m...