Adams Diversified Equity Fund (NYSE:ADX) Reaches New 52-Week High – Here’s What Happened

Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) reached a new 52-week high on Monday . The company traded as high as $24.77 and last traded at $24.74, with a volume of 94967 shares. The stock had previously closed at $24.54.

Adams Diversified Equity Fund Stock Performance

The business has a 50 day moving average of $23.13 and a two-hundred day moving average of $23.11.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, April 27th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 7.8%. 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.

Institutional Trading of Adams Diversified Equity Fund

Several institutional investors and hedge funds have recently modified their holdings of ADX. UMB Bank n.a. raised its stake in shares of Adams Diversified Equity Fund by 8,591.1% in the fourth quarter. UMB Bank n.a. now owns 213,801 shares of the closed-end fund’s stock worth $4,986,000 after purchasing an additional 211,341 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Adams Diversified Equity Fund in the first quarter valued at approximately $3,107,000. Evolve Private Wealth LLC bought a new position in shares of Adams Diversified Equity Fund in the fourth quarter valued at approximately $1,931,000. PMG Family Office LLC bought a new position in shares of Adams Diversified Equity Fund in the third quarter valued at approximately $1,789,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Adams Diversified Equity Fund by 2.2% in the fourth quarter. Lazard Asset Management LLC now owns 3,589,875 shares of the closed-end fund’s stock valued at $83,716,000 after acquiring an additional 77,993 shares in the last quarter. 28.41% of the stock is owned by hedge funds and other institutional investors.

About Adams Diversified Equity Fund

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.