Adams Diversified Equity Fund (NYSE:ADX) Sets New 52-Week High – Here’s What Happened

Adams Diversified Equity Fund, Inc. (NYSE:ADX) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.34 and last traded at $26.35, with a volume of 74735 shares trading hands. The stock had previously closed at $26.06.

Adams Diversified Equity Fund Stock Performance

The firm has a fifty day moving average price of $25.29 and a 200 day moving average price of $23.94.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be issued a $0.50 dividend. This is a positive change 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 7.6%. The ex-dividend date of this dividend is Monday, July 27th.

Institutional Investors Weigh In On Adams Diversified Equity Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Caldwell Trust Co acquired a new stake in Adams Diversified Equity Fund in the 4th quarter valued at about $45,000. Assetmark Inc. lifted its position in shares of 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 purchasing an additional 1,604 shares in the last quarter. Bayban acquired a new position in shares of Adams Diversified Equity Fund during the fourth quarter worth approximately $57,000. Resources Management Corp CT ADV bought a new stake in shares of Adams Diversified Equity Fund during the first quarter valued at approximately $89,000. Finally, IFP Advisors Inc grew its stake in shares of Adams Diversified Equity Fund by 119.4% during the fourth 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 during the last quarter. Institutional investors own 28.41% of the company’s stock.

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.