Adams Diversified Equity Fund (NYSE:ADX) Hits New 12-Month High – Time to Buy?

Adams Diversified Equity Fund, Inc. (NYSE:ADX)’s stock price reached a new 52-week high on Thursday . The company traded as high as $26.54 and last traded at $26.5390, with a volume of 86514 shares changing hands. The stock had previously closed at $26.47.

Adams Diversified Equity Fund Trading Down 0.5%

The firm’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $24.28.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, July 27th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.6%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, July 27th.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ADX. BlackRock Inc. bought a new stake in Adams Diversified Equity Fund during the second quarter valued at $25,000. Trust Co. of Vermont bought a new position in shares of Adams Diversified Equity Fund in the 2nd quarter worth about $31,000. Caldwell Trust Co bought a new position in shares of Adams Diversified Equity Fund in the 4th quarter worth about $45,000. Assetmark Inc. raised its position in shares of Adams Diversified Equity Fund by 367.9% in the 1st 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 in the last quarter. Finally, Bayban acquired a new position in shares of Adams Diversified Equity Fund in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 28.41% of the company’s stock.

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.