Adams Diversified Equity Fund (NYSE:ADX) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Adams Diversified Equity Fund, Inc. (NYSE:ADX) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $25.87 and traded as high as $25.93. Adams Diversified Equity Fund shares last traded at $25.8450, with a volume of 296,471 shares.

Adams Diversified Equity Fund Trading Down 1.0%

The stock’s fifty day simple moving average is $25.89 and its 200-day simple moving average is $25.02.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, July 27th were given a dividend of $0.50 per share. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, July 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADX. MassMutual Private Wealth & Trust FSB grew its stake in Adams Diversified Equity Fund by 1.9% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 45,790 shares of the closed-end fund’s stock worth $1,175,000 after purchasing an additional 854 shares in the last quarter. Security National Bank of SO Dak purchased a new position in shares of Adams Diversified Equity Fund in the 2nd quarter valued at about $69,000. Capstone Financial Advisors Inc. boosted its stake in shares of Adams Diversified Equity Fund by 1.0% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 43,424 shares of the closed-end fund’s stock valued at $1,109,000 after buying an additional 447 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Adams Diversified Equity Fund by 7.4% during the second quarter. Sequoia Financial Advisors LLC now owns 9,819 shares of the closed-end fund’s stock worth $251,000 after buying an additional 676 shares in the last quarter. Finally, Concorde Asset Management LLC grew its position in shares of Adams Diversified Equity Fund by 2.0% during the second quarter. Concorde Asset Management LLC now owns 39,657 shares of the closed-end fund’s stock worth $1,013,000 after buying an additional 760 shares in the last quarter. 28.41% of the stock is currently owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Company Profile

Adams Diversified Equity Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol ADX. The fund seeks long-term capital appreciation and current income by investing primarily in a diversified portfolio of publicly traded equity securities.

The portfolio generally emphasizes established U.S. companies across a range of industries and sectors. Through its investments, the fund provides shareholders with exposure to businesses operating in the United States and, where applicable, companies with international operations.