Adams Natural Resources Fund, Inc. (NYSE:PEO – Get Free Report) shares saw an uptick in trading volume on Friday after an insider bought additional shares in the company. 10,689 shares were traded during trading, a decline of 71% from the previous session’s volume of 37,085 shares.The stock last traded at $22.80 and had previously closed at $22.73.
Specifically, major shareholder Saba Capital Management, L.P. bought 11,058 shares of Adams Natural Resources Fund stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $22.70 per share, for a total transaction of $251,016.60. Following the completion of the purchase, the insider now directly owns 2,837,006 shares in the company, valued at approximately $64,400,036.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Adams Natural Resources Fund Price Performance
The business has a 50 day simple moving average of $23.35 and a two-hundred day simple moving average of $22.93.
Adams Natural Resources Fund Increases Dividend
Hedge Funds Weigh In On Adams Natural Resources Fund
Institutional investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC increased its stake in shares of Adams Natural Resources Fund by 13.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 53,709 shares of the financial services provider’s stock valued at $1,108,000 after buying an additional 6,471 shares during the period. Principal Securities Inc. purchased a new position in shares of Adams Natural Resources Fund during the fourth quarter valued at $478,000. Kovack Advisors Inc. increased its stake in shares of Adams Natural Resources Fund by 5.2% during the fourth quarter. Kovack Advisors Inc. now owns 24,082 shares of the financial services provider’s stock valued at $497,000 after buying an additional 1,191 shares during the period. D.A. Davidson & CO. increased its stake in shares of Adams Natural Resources Fund by 7.9% during the fourth quarter. D.A. Davidson & CO. now owns 54,565 shares of the financial services provider’s stock valued at $1,126,000 after buying an additional 3,983 shares during the period. Finally, Simplicity Wealth LLC purchased a new position in shares of Adams Natural Resources Fund during the second quarter valued at $203,000. Hedge funds and other institutional investors own 33.54% of the company’s stock.
About Adams Natural Resources Fund
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.
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