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

Adams Diversified Equity Fund, Inc. (NYSE:ADX) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.30 and last traded at $25.29, with a volume of 89937 shares traded. The stock had previously closed at $25.02.

Adams Diversified Equity Fund Price Performance

The stock has a 50 day simple moving average of $23.72 and a two-hundred day simple moving average of $23.31.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, April 27th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, April 27th. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

Institutional Investors Weigh In On Adams Diversified Equity Fund

Several large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Adams Diversified Equity Fund in the 1st quarter valued at approximately $276,000. Western Wealth Management LLC acquired a new stake in shares of Adams Diversified Equity Fund in the 1st quarter valued at approximately $133,000. Bank of America Corp DE boosted its holdings in shares of Adams Diversified Equity Fund by 1.0% in the 1st quarter. Bank of America Corp DE now owns 283,991 shares of the closed-end fund’s stock valued at $6,217,000 after buying an additional 2,703 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Adams Diversified Equity Fund in the 1st quarter valued at approximately $171,000. Finally, Resources Management Corp CT ADV acquired a new stake in shares of Adams Diversified Equity Fund in the 1st quarter valued at approximately $89,000. 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.