Insider Bets Paying Off At ADX As New 52-Week High Reached

In trading on Thursday, shares of Adams Diversified Equity Fund Inc (Symbol: ADX) touched a new 52-week high of $16.80/share. That's a 65.35% rise, or $6.64 per share from the 52-week low of $10.16 set back on 03/23/2020. That means at today's intraday high, any investor who purchased ADX stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, ADX has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
03/13/2020 Craig R. Smith Director 8,000 $12.75 $101,998.40
04/15/2020 Janis F. Kerns Gen. Counsel, Corp. Sec. & CCO 370 $13.42 $4,965.40

The chart below shows where ADX has traded over the past year, with the 50-day and 200-day moving averages included.

Adams Diversified Equity Fund Inc Moving Averages Chart

In afternoon trading on Thursday, ADX shares are changing hands at $16.71/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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