141,920 Shares in Adams Diversified Equity Fund, Inc. $ADX Bought by Independent Financial Group LLC

Independent Financial Group LLC acquired a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 141,920 shares of the closed-end fund’s stock, valued at approximately $3,107,000.

Several other hedge funds have also recently bought and sold shares of the business. Caldwell Trust Co bought a new position in Adams Diversified Equity Fund during the fourth quarter valued at about $45,000. Bayban bought a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $57,000. IFP Advisors Inc boosted its stake in shares of Adams Diversified Equity Fund by 119.4% during the 4th quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock worth $101,000 after acquiring an additional 2,361 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $174,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Adams Diversified Equity Fund by 817.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 8,957 shares of the closed-end fund’s stock valued at $200,000 after acquiring an additional 7,981 shares during the last quarter. 28.41% of the stock is owned by institutional investors and hedge funds.

Adams Diversified Equity Fund Price Performance

Shares of ADX stock opened at $25.97 on Friday. The stock’s 50 day simple moving average is $25.26 and its 200 day simple moving average is $23.92. Adams Diversified Equity Fund, Inc. has a twelve month low of $20.91 and a twelve month high of $26.31.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, July 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48.

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.