Adams Diversified Equity Fund (NYSE:ADX) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Adams Diversified Equity Fund, Inc. (NYSE:ADX) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.16 and traded as high as $25.21. Adams Diversified Equity Fund shares last traded at $24.9010, with a volume of 371,519 shares changing hands.

Adams Diversified Equity Fund Stock Performance

The business has a 50 day moving average of $24.16 and a 200 day moving average of $23.41.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, April 27th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, April 27th. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

Hedge Funds Weigh In On Adams Diversified Equity Fund

A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of Adams Diversified Equity Fund by 7.8% in the 1st quarter. NewEdge Advisors LLC now owns 33,811 shares of the closed-end fund’s stock worth $740,000 after purchasing an additional 2,451 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Adams Diversified Equity Fund in the 1st quarter worth about $276,000. Western Wealth Management LLC purchased a new position in shares of Adams Diversified Equity Fund in the 1st quarter worth about $133,000. Bank of America Corp DE raised its holdings in shares of Adams Diversified Equity Fund by 1.0% in the 1st quarter. Bank of America Corp DE now owns 283,991 shares of the closed-end fund’s stock worth $6,217,000 after purchasing an additional 2,703 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Adams Diversified Equity Fund in the 1st quarter worth about $171,000. 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 (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.