Shaker Financial Services LLC Makes New $5.29 Million Investment in Adams Diversified Equity Fund, Inc. $ADX

Shaker Financial Services LLC acquired a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 237,032 shares of the closed-end fund’s stock, valued at approximately $5,286,000. Adams Diversified Equity Fund makes up about 1.8% of Shaker Financial Services LLC’s portfolio, making the stock its 10th largest holding. Shaker Financial Services LLC owned approximately 0.20% of Adams Diversified Equity Fund at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Westbourne Investment Advisors Inc. acquired a new position in Adams Diversified Equity Fund during the second quarter valued at approximately $1,552,000. Waterfront Wealth Inc. increased its stake in shares of Adams Diversified Equity Fund by 6.5% in the 2nd quarter. Waterfront Wealth Inc. now owns 440,707 shares of the closed-end fund’s stock valued at $9,568,000 after purchasing an additional 26,709 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Adams Diversified Equity Fund by 39.6% during the 1st quarter. Royal Bank of Canada now owns 1,054,872 shares of the closed-end fund’s stock worth $20,032,000 after buying an additional 299,425 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Adams Diversified Equity Fund by 388.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 16,125 shares of the closed-end fund’s stock worth $306,000 after buying an additional 12,827 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Adams Diversified Equity Fund by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 428,357 shares of the closed-end fund’s stock valued at $9,381,000 after buying an additional 14,834 shares in the last quarter. 28.41% of the stock is currently owned by institutional investors.

Adams Diversified Equity Fund Price Performance

Shares of NYSE ADX opened at $23.45 on Wednesday. Adams Diversified Equity Fund, Inc. has a 12 month low of $16.50 and a 12 month high of $23.85. The stock has a 50-day moving average price of $23.04 and a two-hundred day moving average price of $22.35.

Adams Diversified Equity Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Friday, November 21st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Friday, November 21st.

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.