Adams Diversified Equity Fund, Inc. $ADX Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. lowered its position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 13.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 385,316 shares of the closed-end fund’s stock after selling 61,107 shares during the period. Adams Diversified Equity Fund makes up about 1.7% of Waterfront Wealth Inc.’s portfolio, making the stock its 10th largest position. Waterfront Wealth Inc.’s holdings in Adams Diversified Equity Fund were worth $8,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADX. Westfuller Advisors LLC acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth $28,000. CWM LLC lifted its holdings in shares of Adams Diversified Equity Fund by 27.3% during the third quarter. CWM LLC now owns 3,609 shares of the closed-end fund’s stock worth $80,000 after buying an additional 773 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Adams Diversified Equity Fund by 817.7% during the third quarter. CIBC Private Wealth Group LLC now owns 8,957 shares of the closed-end fund’s stock worth $200,000 after buying an additional 7,981 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth $204,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth $217,000. Institutional investors and hedge funds own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Down 0.1%

ADX stock opened at $23.96 on Monday. The business has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $22.96. Adams Diversified Equity Fund, Inc. has a 52 week low of $17.62 and a 52 week high of $24.14.

Adams Diversified Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, April 27th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.0%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, April 27th.

Adams Diversified Equity Fund 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.