Adams Diversified Equity Fund (NYSE:ADX) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.87 and traded as low as $21.76. Adams Diversified Equity Fund shares last traded at $21.79, with a volume of 261,802 shares changing hands.

Adams Diversified Equity Fund Stock Down 1.9%

The stock has a fifty day moving average price of $22.98 and a 200-day moving average price of $22.87.

Adams Diversified Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, January 26th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 8.6%. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, January 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Westfuller Advisors LLC bought a new stake in shares of Adams Diversified Equity Fund in the 3rd quarter worth about $28,000. Caldwell Trust Co acquired a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $45,000. Bayban bought a new position in Adams Diversified Equity Fund during the 4th quarter valued at about $57,000. CWM LLC lifted its holdings in Adams Diversified Equity Fund by 27.3% during the 3rd quarter. CWM LLC now owns 3,609 shares of the closed-end fund’s stock valued at $80,000 after purchasing an additional 773 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Adams Diversified Equity Fund by 119.4% in the fourth quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock valued at $101,000 after buying an additional 2,361 shares in the last quarter. 28.41% of the stock is owned by institutional investors.

About Adams Diversified Equity Fund

Adams Diversified Equity Fund (NYSE:ADX) is a closed-end management investment company that has traded on the New York Stock Exchange since 1929. The fund seeks long-term growth of capital with current income by investing primarily in equity securities of U.S. companies. As one of the oldest continuously operating diversified equity funds, ADX offers investors access to a broad portfolio of common stocks representing various sectors of the U.S. economy.

The fund employs a research-driven, bottom-up investment approach, emphasizing individual company fundamentals such as earnings growth, balance-sheet strength and valuation.