1607 Capital Partners LLC Cuts Stake in Adams Diversified Equity Fund, Inc. $ADX

1607 Capital Partners LLC lowered its position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 22.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 508,536 shares of the closed-end fund’s stock after selling 144,136 shares during the period. Adams Diversified Equity Fund accounts for 0.8% of 1607 Capital Partners LLC’s holdings, making the stock its 28th biggest holding. 1607 Capital Partners LLC’s holdings in Adams Diversified Equity Fund were worth $11,859,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Caldwell Trust Co purchased a new position in Adams Diversified Equity Fund during the 4th quarter worth $45,000. IFP Advisors Inc increased its holdings in shares of Adams Diversified Equity Fund by 119.4% in the 4th quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock valued at $101,000 after purchasing an additional 2,361 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Adams Diversified Equity Fund in the 4th quarter valued at about $174,000. CIBC Private Wealth Group LLC increased its holdings in shares of Adams Diversified Equity Fund by 817.7% in 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 purchasing an additional 7,981 shares in the last quarter. Finally, Dana Investment Advisors Inc. purchased a new position in shares of Adams Diversified Equity Fund in the 4th quarter valued at about $212,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Trading Down 1.6%

Shares of ADX opened at $24.95 on Thursday. The company has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $23.51. Adams Diversified Equity Fund, Inc. has a 52-week low of $20.65 and a 52-week high of $25.70.

Adams Diversified Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, April 27th were issued a $0.48 dividend. The ex-dividend date was Monday, April 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

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.