Merit Financial Group LLC Decreases Stock Holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX)

Merit Financial Group LLC lessened its holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 12.9% during the 4th quarter, HoldingsChannel reports. The firm owned 36,138 shares of the closed-end fund’s stock after selling 5,354 shares during the period. Merit Financial Group LLC’s holdings in Adams Diversified Equity Fund were worth $730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADX. Farther Finance Advisors LLC purchased a new stake in shares of Adams Diversified Equity Fund during the 3rd quarter valued at about $30,000. Sunbelt Securities Inc. raised its position in Adams Diversified Equity Fund by 23,200.0% during the second quarter. Sunbelt Securities Inc. now owns 2,563 shares of the closed-end fund’s stock valued at $55,000 after purchasing an additional 2,552 shares during the period. LRI Investments LLC bought a new stake in shares of Adams Diversified Equity Fund in the 3rd quarter valued at approximately $62,000. Kingsview Wealth Management LLC purchased a new position in shares of Adams Diversified Equity Fund in the 3rd quarter worth approximately $238,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Adams Diversified Equity Fund during the 3rd quarter valued at approximately $248,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Performance

Shares of ADX opened at $21.18 on Thursday. The business has a fifty day moving average of $20.78 and a 200 day moving average of $21.20. Adams Diversified Equity Fund, Inc. has a 52-week low of $17.80 and a 52-week high of $22.63.

Adams Diversified Equity Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 8.88%.

Insider Buying and Selling

In other Adams Diversified Equity Fund news, Director Jane Musser Nelson purchased 1,155 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average cost of $21.69 per share, with a total value of $25,051.95. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic A. Escherich sold 9,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $21.93, for a total value of $208,335.00. Following the completion of the transaction, the director now directly owns 49,908 shares in the company, valued at $1,094,482.44. This trade represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

About Adams Diversified Equity Fund

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.