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

Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.34 and last traded at $26.35, with a volume of 74735 shares changing hands. The stock had previously closed at $26.06.

Adams Diversified Equity Fund Price Performance

The business’s 50-day moving average is $25.35 and its 200 day moving average is $23.98.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, July 27th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.6%. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, July 27th.

Institutional Investors Weigh In On Adams Diversified Equity Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Post Resch Tallon Group Inc. purchased a new stake in Adams Diversified Equity Fund during the 2nd quarter valued at about $253,000. Quad Cities Investment Group LLC increased its position in shares of Adams Diversified Equity Fund by 1.9% in the second quarter. Quad Cities Investment Group LLC now owns 29,033 shares of the closed-end fund’s stock valued at $742,000 after acquiring an additional 545 shares during the period. Avior Wealth Management LLC increased its position in shares of Adams Diversified Equity Fund by 2.5% in the second quarter. Avior Wealth Management LLC now owns 40,263 shares of the closed-end fund’s stock valued at $1,029,000 after acquiring an additional 1,000 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Adams Diversified Equity Fund by 1.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 44,936 shares of the closed-end fund’s stock valued at $1,148,000 after acquiring an additional 843 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Adams Diversified Equity Fund during the first quarter valued at about $133,000. 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.