Adams Diversified Equity Fund (NYSE:ADX) Sets New 1-Year High – Time to Buy?

Adams Diversified Equity Fund, Inc. (NYSE:ADX) hit a new 52-week high on Wednesday . The stock traded as high as $25.70 and last traded at $25.6750, with a volume of 107216 shares. The stock had previously closed at $25.55.

Adams Diversified Equity Fund Stock Performance

The stock has a 50-day moving average price of $24.84 and a 200-day moving average price of $23.65.

Adams Diversified Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, April 27th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 7.5%. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, April 27th.

Institutional Trading of Adams Diversified Equity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caldwell Trust Co acquired a new stake in Adams Diversified Equity Fund in the 4th quarter valued at approximately $45,000. Assetmark Inc. grew its holdings 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 bought a new stake in shares of Adams Diversified Equity Fund during the fourth quarter valued at approximately $57,000. Resources Management Corp CT ADV acquired a new position in shares of Adams Diversified Equity Fund in the first quarter valued at $89,000. Finally, IFP Advisors Inc lifted its position in Adams Diversified Equity Fund by 119.4% in the fourth quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock worth $101,000 after purchasing an additional 2,361 shares during the period. 28.41% of the stock is currently owned by institutional investors and hedge funds.

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.