Adams Diversified Equity Fund (NYSE:ADX) Shares Cross Below 200-Day Moving Average – Here’s Why

Adams Diversified Equity Fund, Inc. (NYSE:ADX)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $24.69 and traded as low as $24.26. Adams Diversified Equity Fund shares last traded at $24.3340, with a volume of 617,055 shares changing hands.

Adams Diversified Equity Fund Trading Up 0.9%

The business has a fifty day moving average of $25.72 and a 200 day moving average of $24.70.

Institutional Trading of Adams Diversified Equity Fund

A number of hedge funds have recently made changes to their positions in ADX. Bank of America Corp DE acquired a new position in shares of Adams Diversified Equity Fund during the 2nd quarter worth approximately $8,188,000. RB Capital Management LLC acquired a new stake in Adams Diversified Equity Fund during the 2nd quarter valued at $5,399,000. Roberts Glore & Co. Inc. IL bought a new position in Adams Diversified Equity Fund during the second quarter worth $4,109,000. Independent Financial Group LLC bought a new position in Adams Diversified Equity Fund during the first quarter worth $3,107,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of Adams Diversified Equity Fund in the second quarter valued at $2,018,000. 28.41% of the stock is owned by institutional investors and hedge funds.

Adams Diversified Equity Fund Company Profile

Adams Diversified Equity Fund, Inc (NYSE: ADX) is a closed-end investment company that seeks long-term capital appreciation and income by investing primarily in a diversified portfolio of publicly traded U.S. equities. Its holdings generally span multiple industries and sectors, providing shareholders with exposure to established and emerging companies across the American stock market.

The fund is managed by Adams Funds, an investment management firm based in Baltimore, Maryland. In addition to its diversified equity strategy, the Adams organization manages other investment products and strategies for individuals and institutions.