Northwestern Mutual Wealth Management Co. Purchases Shares of 47,750 Adams Diversified Equity Fund, Inc. $ADX

Northwestern Mutual Wealth Management Co. purchased a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 47,750 shares of the closed-end fund’s stock, valued at approximately $1,220,000.

A number of other hedge funds have also recently modified their holdings of the company. Independent Financial Group LLC purchased a new stake in shares of Adams Diversified Equity Fund during the first quarter worth about $3,107,000. Bensler LLC increased its holdings in Adams Diversified Equity Fund by 6.8% during the 4th quarter. Bensler LLC now owns 987,718 shares of the closed-end fund’s stock valued at $23,034,000 after purchasing an additional 62,665 shares during the period. Evolve Private Wealth LLC purchased a new position in Adams Diversified Equity Fund during the 2nd quarter valued at about $2,018,000. Royal Bank of Canada raised its position in Adams Diversified Equity Fund by 4.7% during the 1st quarter. Royal Bank of Canada now owns 980,325 shares of the closed-end fund’s stock valued at $21,459,000 after purchasing an additional 44,446 shares during the last quarter. Finally, Uniting Wealth Partners LLC bought a new position in Adams Diversified Equity Fund during the 2nd quarter valued at approximately $593,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Trading Up 0.4%

NYSE ADX opened at $25.88 on Wednesday. Adams Diversified Equity Fund, Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $26.56. The stock has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $24.42.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be issued a dividend of $0.50 per share. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Monday, July 27th.

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.