Adams Diversified Equity Fund, Inc. (NYSE:ADX) Sees Large Increase in Short Interest

Adams Diversified Equity Fund, Inc. (NYSE:ADX) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 881,993 shares, a growth of 27.4% from the February 26th total of 692,299 shares. Based on an average daily trading volume, of 295,881 shares, the short-interest ratio is currently 3.0 days. Currently, 0.7% of the shares of the stock are short sold.

Adams Diversified Equity Fund Stock Up 0.6%

Shares of NYSE:ADX traded up $0.12 during trading hours on Monday, hitting $21.43. 77,921 shares of the company’s stock traded hands, compared to its average volume of 290,372. The business has a fifty day moving average price of $22.94 and a 200-day moving average price of $22.88. Adams Diversified Equity Fund has a 1 year low of $16.50 and a 1 year high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, January 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 8.8%. The ex-dividend date was Monday, January 26th. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46.

Institutional Investors Weigh In On Adams Diversified Equity Fund

Several hedge funds have recently made changes to their positions in the company. World Investment Advisors grew its stake in Adams Diversified Equity Fund by 28.4% in the fourth quarter. World Investment Advisors now owns 13,367 shares of the closed-end fund’s stock valued at $312,000 after purchasing an additional 2,958 shares during the last quarter. Bayban purchased a new stake in shares of Adams Diversified Equity Fund during the fourth quarter valued at about $57,000. Virtu Financial LLC purchased a new stake in shares of Adams Diversified Equity Fund during the fourth quarter valued at about $310,000. Invesco Ltd. bought a new stake in shares of Adams Diversified Equity Fund in the 4th quarter valued at about $917,000. Finally, Harbour Wealth Management Group Inc. bought a new stake in shares of Adams Diversified Equity Fund in the 4th quarter valued at about $270,000. 28.41% of the stock is currently 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.