Adams Natural Resources Fund, Inc. (NYSE:PEO) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in Adams Natural Resources Fund, Inc. (NYSE:PEO) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,965 shares of the financial services provider’s stock after selling 1,117 shares during the period. Kovack Advisors Inc.’s holdings in Adams Natural Resources Fund were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Zazove Associates LLC acquired a new stake in shares of Adams Natural Resources Fund in the fourth quarter valued at approximately $37,000. Venturi Wealth Management LLC grew its holdings in Adams Natural Resources Fund by 199.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,499 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,665 shares during the last quarter. Flow State Investments L.P. acquired a new stake in Adams Natural Resources Fund during the 4th quarter valued at $304,000. Alta Capital Management LLC purchased a new position in Adams Natural Resources Fund during the fourth quarter worth $413,000. Finally, Principal Securities Inc. acquired a new position in shares of Adams Natural Resources Fund in the fourth quarter worth $478,000. 33.54% of the stock is currently owned by hedge funds and other institutional investors.

Adams Natural Resources Fund Stock Up 0.9 %

Shares of NYSE:PEO traded up $0.22 on Thursday, hitting $23.61. The company had a trading volume of 13,715 shares, compared to its average volume of 43,526. The business has a 50 day moving average of $23.25 and a 200 day moving average of $22.22. Adams Natural Resources Fund, Inc. has a 52-week low of $19.78 and a 52-week high of $24.25.

Adams Natural Resources Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.69%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 30,234 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of $22.79 per share, with a total value of $689,032.86. Following the completion of the transaction, the insider now directly owns 2,604,860 shares in the company, valued at approximately $59,364,759.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 125,063 shares of company stock valued at $2,901,381 in the last ninety days. Insiders own 0.06% 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.