Adams Diversified Equity Fund, Inc. (NYSE:ADX) Sees Large Increase in Short Interest

Key Points

• Short interest jumped 27.4% in March to 881,993 shares as of March 13, implying a short-interest ratio of about 3.0 days and roughly 0.7% of the company's stock shorted.
• Adams raised its quarterly dividend to $0.47 (from $0.46), an annualized $1.88 that yields 8.8%; the dividend was paid Feb. 27 with a Jan. 26 record date.
• Institutional investors own about 28.41% of the fund, with several advisers modestly increasing their positions during the fourth quarter.

Adams Diversified Equity Fund, Inc. (NYSE:ADX - Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 881,993 shares, a growth of 27.4% from the February 26th total of 692,299 shares. Based on an average daily volume of 295,881 shares, the short-interest ratio is presently 3.0 days. Approximately 0.7% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its position in Adams Diversified Equity Fund by 3.8% during the 4th 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 during the last quarter. MML Investors Services LLC raised its stake in Adams Diversified Equity Fund by 1.3% during the 4th quarter. MML Investors Services LLC now owns 32,763 shares of the closed-end fund's stock valued at $764,000 after buying an additional 436 shares during the last quarter. Uniting Wealth Partners LLC lifted its holdings in 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 valued at $520,000 after acquiring an additional 439 shares during the period. Capstone Financial Advisors Inc. lifted its stake in shares of Adams Diversified Equity Fund by 1.1% in the 4th quarter. Capstone Financial Advisors Inc. now owns 42,513 shares of the closed-end fund's stock worth $991,000 after purchasing an additional 451 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Adams Diversified Equity Fund by 2.0% during the 4th quarter. Blue Trust Inc. now owns 27,386 shares of the closed-end fund's stock worth $639,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company's stock.

Adams Diversified Equity Fund Stock Up 0.6%

Shares of ADX stock traded up $0.12 during trading on Monday, hitting $21.43. The company had a trading volume of 77,921 shares, compared to its average volume of 290,372. The stock's 50-day moving average is $22.94 and its two-hundred day moving average is $22.88. Adams Diversified Equity Fund has a 52 week low of $16.50 and a 52 week high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, January 26th. This represents a $1.88 annualized dividend and a yield of 8.8%. This is a boost from Adams Diversified Equity Fund's previous quarterly dividend of $0.46.

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.

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