Kovack Advisors Inc. Trims Stock Position in Adams Natural Resources Fund, Inc. (NYSE:PEO)

Kovack Advisors Inc. trimmed its holdings in shares of Adams Natural Resources Fund, Inc. (NYSE:PEO) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,749 shares of the financial services provider’s stock after selling 1,216 shares during the period. Kovack Advisors Inc. owned about 0.09% of Adams Natural Resources Fund worth $505,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PEO. Whitener Capital Management Inc. boosted its stake in shares of Adams Natural Resources Fund by 0.7% during the 3rd quarter. Whitener Capital Management Inc. now owns 74,478 shares of the financial services provider’s stock worth $1,729,000 after purchasing an additional 531 shares during the last quarter. Cullen Investment Group LTD. lifted its stake in shares of Adams Natural Resources Fund by 2.1% during the third quarter. Cullen Investment Group LTD. now owns 28,240 shares of the financial services provider’s stock valued at $656,000 after buying an additional 580 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Adams Natural Resources Fund by 241.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,283 shares during the last quarter. Raymond James & Associates grew its stake in Adams Natural Resources Fund by 3.7% in the 3rd quarter. Raymond James & Associates now owns 216,439 shares of the financial services provider’s stock worth $5,026,000 after acquiring an additional 7,727 shares during the period. Finally, Searle & CO. acquired a new position in Adams Natural Resources Fund in the 2nd quarter valued at $201,000. 33.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 16,514 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $22.85 per share, with a total value of $377,344.90. Following the completion of the transaction, the insider now owns 2,888,924 shares of the company’s stock, valued at approximately $66,011,913.40. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have acquired 53,103 shares of company stock worth $1,204,624. 0.06% of the stock is owned by company insiders.

Adams Natural Resources Fund Price Performance

Shares of Adams Natural Resources Fund stock opened at $24.28 on Friday. Adams Natural Resources Fund, Inc. has a fifty-two week low of $19.78 and a fifty-two week high of $24.51. The business’s fifty day moving average is $23.53 and its two-hundred day moving average is $23.37.

Adams Natural Resources Fund Company Profile

Adams Natural Resources Fund, Inc is a publicly owned investment manager. The firm invests in the public equity markets across the globe. The firm manages closed-end equity fund focused on the energy and material sectors. It invests in stocks of companies of all market capitalizations operating in the energy and natural resources sector including oil companies, exploration and production, utilities, services, and basic materials sectors.