Adams Natural Resources Fund (NYSE:PEO) Sets New 1-Year High – Here’s What Happened

Adams Natural Resources Fund, Inc. (NYSE:PEO) hit a new 52-week high during trading on Friday . The company traded as high as $24.68 and last traded at $24.68, with a volume of 500 shares traded. The stock had previously closed at $24.28.

Adams Natural Resources Fund Stock Performance

The firm’s fifty day moving average price is $23.53 and its two-hundred day moving average price is $23.37.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 13,785 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $22.76 per share, with a total value of $313,746.60. Following the purchase, the insider now owns 2,853,687 shares of the company’s stock, valued at $64,949,916.12. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders bought 53,103 shares of company stock worth $1,204,624. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Adams Natural Resources Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC lifted its stake in Adams Natural Resources Fund by 149.9% in the 3rd quarter. Pathstone Holdings LLC now owns 291,504 shares of the financial services provider’s stock valued at $6,771,000 after buying an additional 174,866 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Adams Natural Resources Fund during the third quarter valued at approximately $1,247,000. Adams Diversified Equity Fund Inc. lifted its position in shares of Adams Natural Resources Fund by 2.4% in the third quarter. Adams Diversified Equity Fund Inc. now owns 2,238,679 shares of the financial services provider’s stock valued at $51,982,000 after acquiring an additional 51,905 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Adams Natural Resources Fund by 1,206.2% in the third quarter. Wolverine Asset Management LLC now owns 24,086 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 22,242 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Adams Natural Resources Fund during the third quarter worth approximately $360,000. 33.54% of the stock is owned by hedge funds and other institutional investors.

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.