Hennion & Walsh Asset Management Inc. Lowers Stock Position in Adams Diversified Equity Fund, Inc. $ADX

Hennion & Walsh Asset Management Inc. cut its stake in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,750 shares of the closed-end fund’s stock after selling 25,446 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Adams Diversified Equity Fund were worth $7,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in Adams Diversified Equity Fund by 8,591.1% in the 4th quarter. UMB Bank n.a. now owns 213,801 shares of the closed-end fund’s stock worth $4,986,000 after acquiring an additional 211,341 shares in the last quarter. Independent Financial Group LLC purchased a new position in Adams Diversified Equity Fund during the first quarter valued at approximately $3,107,000. Evolve Private Wealth LLC bought a new position in shares of Adams Diversified Equity Fund in the fourth quarter worth approximately $1,931,000. Lazard Asset Management LLC boosted its position in shares of Adams Diversified Equity Fund by 2.2% in the fourth quarter. Lazard Asset Management LLC now owns 3,589,875 shares of the closed-end fund’s stock worth $83,716,000 after purchasing an additional 77,993 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of Adams Diversified Equity Fund by 6.3% in the third quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund’s stock worth $29,125,000 after purchasing an additional 77,902 shares in the last quarter. 28.41% of the stock is owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Stock Performance

Shares of ADX stock opened at $26.11 on Monday. Adams Diversified Equity Fund, Inc. has a one year low of $20.91 and a one year high of $26.49. The company’s fifty day moving average price is $25.49 and its 200-day moving average price is $24.18.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, July 27th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, July 27th. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48.

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.