Adams Diversified Equity Fund (NYSE:ADX) Reaches New 12-Month High – Still a Buy?

Adams Diversified Equity Fund, Inc. (NYSE:ADX)’s stock price 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 trading hands. The stock had previously closed at $24.54.

Adams Diversified Equity Fund Price Performance

The stock has a 50-day moving average of $23.25 and a two-hundred day moving average of $23.16.

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 given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, April 27th. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

Institutional Investors Weigh In On Adams Diversified Equity Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADX. Westfuller Advisors LLC acquired a new position in shares of Adams Diversified Equity Fund in the third quarter worth $28,000. Caldwell Trust Co acquired a new position in Adams Diversified Equity Fund in the 4th quarter worth about $45,000. Assetmark Inc. raised its stake in shares of Adams Diversified Equity Fund by 367.9% during the 1st quarter. Assetmark Inc. now owns 2,040 shares of the closed-end fund’s stock worth $45,000 after purchasing an additional 1,604 shares in the last quarter. Bayban acquired a new stake in shares of Adams Diversified Equity Fund during the 4th quarter valued at about $57,000. Finally, CWM LLC lifted its holdings in shares of Adams Diversified Equity Fund by 27.3% during the 3rd quarter. CWM LLC now owns 3,609 shares of the closed-end fund’s stock valued at $80,000 after buying an additional 773 shares during the last quarter. Hedge funds and other 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.