211,303 Shares in Adams Diversified Equity Fund, Inc. $ADX Purchased by RB Capital Management LLC

RB Capital Management LLC bought a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 211,303 shares of the closed-end fund’s stock, valued at approximately $5,399,000. Adams Diversified Equity Fund accounts for about 1.1% of RB Capital Management LLC’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Adams Diversified Equity Fund during the second quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Adams Diversified Equity Fund during the second quarter worth approximately $31,000. Assetmark Inc. boosted its position in Adams Diversified Equity Fund by 367.9% during the first quarter. Assetmark Inc. now owns 2,040 shares of the closed-end fund’s stock worth $45,000 after acquiring an additional 1,604 shares during the last quarter. Bayban purchased a new stake in Adams Diversified Equity Fund in the 4th quarter worth approximately $57,000. Finally, Resources Management Corp CT ADV acquired a new position in Adams Diversified Equity Fund in the 1st quarter valued at $89,000. 28.41% of the stock is owned by institutional investors and hedge funds.

Adams Diversified Equity Fund Trading Down 0.3%

Shares of ADX stock opened at $25.97 on Friday. Adams Diversified Equity Fund, Inc. has a 1-year low of $20.91 and a 1-year high of $26.56. The firm’s 50-day simple moving average is $25.79 and its 200-day simple moving average is $24.47.

Adams Diversified Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, July 27th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.7%. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, July 27th.

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.