Adams Diversified Equity Fund (NYSE:ADX) Hits New 1-Year High – Here’s What Happened

Adams Diversified Equity Fund, Inc. (NYSE:ADX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $26.17 and last traded at $26.0750, with a volume of 245836 shares changing hands. The stock had previously closed at $26.11.

Adams Diversified Equity Fund Stock Down 0.1%

The stock’s 50 day moving average price is $25.08 and its two-hundred day moving average price is $23.82.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, April 27th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 7.4%. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, April 27th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ADX. Caldwell Trust Co purchased a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $45,000. Assetmark Inc. lifted 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 valued at $45,000 after buying an additional 1,604 shares during the last quarter. Bayban bought a new stake in shares of Adams Diversified Equity Fund in the 4th quarter valued at approximately $57,000. Resources Management Corp CT ADV bought a new stake in shares of Adams Diversified Equity Fund in the 1st quarter valued at approximately $89,000. Finally, IFP Advisors Inc increased its holdings 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 buying an additional 2,361 shares during the last quarter. 28.41% of the stock is owned by institutional investors and hedge funds.

Adams Diversified Equity Fund Company 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.