Northwestern Mutual Wealth Management Co. Raises Position in Adams Diversified Equity Fund, Inc. $ADX

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 85.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,750 shares of the closed-end fund’s stock after acquiring an additional 22,032 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Adams Diversified Equity Fund were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Adams Diversified Equity Fund by 3.8% during the fourth quarter. Bank of Montreal Can now owns 11,886 shares of the closed-end fund’s stock valued at $277,000 after purchasing an additional 435 shares in the last quarter. MML Investors Services LLC increased its position in Adams Diversified Equity Fund by 1.3% in the fourth quarter. MML Investors Services LLC now owns 32,763 shares of the closed-end fund’s stock worth $764,000 after buying an additional 436 shares in the last quarter. Uniting Wealth Partners LLC raised its stake in shares of Adams Diversified Equity Fund by 2.0% in the fourth quarter. Uniting Wealth Partners LLC now owns 22,306 shares of the closed-end fund’s stock worth $520,000 after buying an additional 439 shares during the period. Capstone Financial Advisors Inc. lifted its position in shares of Adams Diversified Equity Fund by 1.1% during the 4th quarter. Capstone Financial Advisors Inc. now owns 42,513 shares of the closed-end fund’s stock valued at $991,000 after buying an additional 451 shares in the last quarter. Finally, Quad Cities Investment Group LLC grew its stake in shares of Adams Diversified Equity Fund by 1.9% during the 2nd quarter. Quad Cities Investment Group LLC now owns 29,033 shares of the closed-end fund’s stock valued at $742,000 after acquiring an additional 545 shares during the period. 28.41% of the stock is currently owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Price Performance

Adams Diversified Equity Fund stock opened at $26.14 on Friday. The firm has a 50 day moving average of $25.90 and a 200 day moving average of $24.57. Adams Diversified Equity Fund, Inc. has a 12-month low of $20.91 and a 12-month high of $26.56.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, July 27th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost 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 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.