Adams Diversified Equity Fund (NYSE:ADX) Shares Gap Down - Here's Why

Adams Diversified Equity Fund, Inc. (NYSE:ADX - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $22.43, but opened at $20.50. Adams Diversified Equity Fund shares last traded at $20.49, with a volume of 193,040 shares changing hands.

Adams Diversified Equity Fund Price Performance

The stock has a 50-day moving average of $21.75 and a two-hundred day moving average of $21.26.

Adams Diversified Equity Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, November 22nd will be paid a $1.96 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.84 dividend on an annualized basis and a dividend yield of 38.43%.

Insider Activity at Adams Diversified Equity Fund

In other news, Director Jane Musser Nelson bought 1,155 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was purchased at an average price of $21.69 per share, with a total value of $25,051.95. Following the transaction, the director now owns 4,982 shares of the company's stock, valued at approximately $108,059.58. The trade was a 30.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic A. Escherich sold 9,500 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $21.93, for a total transaction of $208,335.00. Following the sale, the director now directly owns 49,908 shares in the company, valued at $1,094,482.44. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its holdings in Adams Diversified Equity Fund by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 4,401,972 shares of the closed-end fund's stock worth $85,926,000 after purchasing an additional 279,285 shares during the period. ARQ Wealth Advisors LLC increased its holdings in shares of Adams Diversified Equity Fund by 7.9% in the first quarter. ARQ Wealth Advisors LLC now owns 64,811 shares of the closed-end fund's stock worth $1,265,000 after purchasing an additional 4,752 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Adams Diversified Equity Fund in the first quarter worth about $2,679,000. Cetera Advisors LLC bought a new position in Adams Diversified Equity Fund during the first quarter valued at approximately $470,000. Finally, Capital Market Strategies LLC grew its holdings in Adams Diversified Equity Fund by 3.3% during the 2nd quarter. Capital Market Strategies LLC now owns 24,248 shares of the closed-end fund's stock valued at $521,000 after buying an additional 767 shares in the last quarter. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Company Profile

Adams Diversified Equity Fund, Inc is a publicly owned investment manager. It primarily provides its services to investment companies. The firm is a large advisory firm The firm is actively engaged in businesses, including commodity pool operator or commodity trading advisor. The firm launches equity.