Adams Diversified Equity Fund (NYSE:ADX) Hits New 1-Year High – Here’s Why

Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $25.30 and last traded at $25.29, with a volume of 89937 shares. The stock had previously closed at $25.02.

Adams Diversified Equity Fund Stock Performance

The firm’s fifty day moving average is $23.56 and its 200 day moving average is $23.26.

Adams Diversified Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, April 27th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.92 dividend on an annualized basis and a yield of 7.6%. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

Institutional Trading of Adams Diversified Equity Fund

Institutional investors have recently bought and sold shares of the business. King Luther Capital Management Corp bought a new stake in Adams Diversified Equity Fund in the 3rd quarter valued at about $1,116,000. Penserra Capital Management LLC boosted its holdings in Adams Diversified Equity Fund by 21.7% in the 3rd quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund’s stock valued at $6,581,000 after purchasing an additional 52,577 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its holdings in Adams Diversified Equity Fund by 209.5% in the 3rd quarter. Prevail Innovative Wealth Advisors LLC now owns 78,554 shares of the closed-end fund’s stock valued at $1,752,000 after purchasing an additional 53,172 shares during the period. PMG Family Office LLC bought a new stake in Adams Diversified Equity Fund in the 3rd quarter valued at about $1,789,000. Finally, ARQ Wealth Advisors LLC boosted its holdings in Adams Diversified Equity Fund by 54.8% in the 3rd quarter. ARQ Wealth Advisors LLC now owns 208,347 shares of the closed-end fund’s stock valued at $4,646,000 after purchasing an additional 73,780 shares during the period. Institutional investors own 28.41% of the company’s stock.

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.