(NYSE:PEO) shares saw heavy trading volume with 125K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 114.84% over the normal average daily volume.
Investors are more bearish on Adams Natural Resources Fund, I of late at least if you consider the change in short interest. The stock recorded a rise in short interest of 6.61% as of October 13, 2017 from the last reporting period. Short shares grew 25,557 over that timeframe. With short interest at 412,390 and short average daily volume at 53,125, the short-interest ratio is 8.0 and the short interest percentage is 0.01% as of October 13.
There has been some buying insider activity on Adams Natural Resources Fund, I (NYSE:PEO) recently. Lauriann C. Kloppenburg, Director disclosed the purchase of 1,500 shares of PEO stock. The shares were purchased at an average price of $19.62. The Director now owns $29,430 of the stock according to the SEC filing.
A few notable investment firms have updated their holdings. Cardan Capital Partners, LLC augmented its ownership by buying 775 shares an increase of 6.8%. Cardan Capital Partners, LLC now holds 12,162 shares with a value of $239,000. The value of the position overall is up by 12.2%. As of quarter end Bank Of Montreal /can/ had sold a total of 2,091 shares trimming its stake by 40.4%. The value of the investment in Adams Natural Resources Fund, I decreased from $97,000 to $61,000 a change of 37.1% for the reporting period.
As of the end of the quarter Deschutes Portfolio Strategy, LLC had acquired 10,885 shares growing its position 3.1%. The value of the investment in (PEO) went from $6,552,000 to $7,099,000 a change of $547,000 quarter over quarter. Raymond James Financial Services Advisors, Inc. downsized its stake by selling 5,376 shares a decrease of 13.4% in the quarter. Raymond James Financial Services Advisors, Inc. owns 34,709 shares worth $682,000. The total value of its holdings decreased 9.1%.
The company is so far trading up by 0.10% percent from yesterday’s close. Company shares last traded at $19.52 which is marginally higher than the 50 day moving average which is $19.42 and which is marginally over the 200 day moving average of $18.94. The 50 day moving average was up $0.10 and the 200 day average went up $0.58 or +3.08%.
Adams Natural Resources Fund, Inc., formerly Petroleum & Resources Corporation, launched on Feb 4, 1977, is an equity investment fund for investors in energy and natural resources sector in a conservatively-managed fund. The Fund is an internally-managed closed-end fund specializing in petroleum and other natural resource investments. The investment objectives of the Fund are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation. The Company has annual distribution rate of at least 6%. The Company invests in a variety of basic materials, including coal, precious and industrial metals, aggregates, and chemicals, as these have investment characteristics..