Kovack Advisors Inc. Cuts 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, Holdings Channel reports. The firm owned 21,749 shares of the financial services provider’s stock after selling 1,216 shares during the period. Kovack Advisors Inc.’s holdings in Adams Natural Resources Fund were worth $505,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PEO. Whitener Capital Management Inc. lifted its stake in shares of Adams Natural Resources Fund by 0.7% during the third 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 in the last quarter. Cullen Investment Group LTD. raised its holdings in shares of Adams Natural Resources Fund by 2.1% during the 3rd 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. raised its holdings in shares of Adams Natural Resources Fund by 241.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,230 shares of the financial services provider’s stock valued at $76,000 after buying an additional 2,283 shares during the period. Raymond James & Associates lifted its position in Adams Natural Resources Fund by 3.7% during 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 in the last quarter. Finally, Searle & CO. purchased a new position in Adams Natural Resources Fund in the 2nd quarter worth approximately $201,000. 33.54% of the stock is currently owned by institutional investors and hedge funds.

Adams Natural Resources Fund Trading Down 0.5 %

PEO opened at $24.28 on Friday. The firm’s 50 day moving average is $23.53 and its 200-day moving average is $23.37. Adams Natural Resources Fund, Inc. has a 52-week low of $19.78 and a 52-week high of $24.51.

Insider Activity at Adams Natural Resources Fund

In other Adams Natural Resources Fund news, major shareholder Saba Capital Management, L.P. purchased 13,785 shares of Adams Natural Resources Fund stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $22.76 per share, with a total value of $313,746.60. Following the completion of the acquisition, the insider now owns 2,853,687 shares of the company’s stock, valued at approximately $64,949,916.12. This trade represents a 0.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 53,103 shares of company stock valued at $1,204,624. Corporate insiders own 0.06% of the company’s stock.

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.