Adams Diversified Equity Fund (NYSE:ADX) Hits New 12-Month High - What's Next?

Key Points

• Adams Diversified Equity Fund (NYSE:ADX) hit a new 52-week high of $23.85 (last trade $23.8330) on Tuesday, with a trading volume of 37,057 shares and its 50- and 200-day simple moving averages at $22.80 and $22.92, respectively.
• The fund raised its quarterly dividend to $0.47 (from $0.46), a $1.88 annualized payout that represents a yield of about 7.9%.
• Institutional investors and hedge funds own 28.41% of ADX, and several large managers — including Lazard Asset Management and Raymond James — increased their holdings in recent quarters.

Adams Diversified Equity Fund, Inc. (NYSE:ADX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $23.85 and last traded at $23.8330, with a volume of 37057 shares traded. The stock had previously closed at $23.66.

Adams Diversified Equity Fund Trading Up 0.9%

The company's 50-day simple moving average is $22.80 and its 200 day simple moving average is $22.92.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, January 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 26th. This is a positive change from Adams Diversified Equity Fund's previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 7.9%.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Several hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC increased its position in Adams Diversified Equity Fund by 2.2% during 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 buying an additional 77,993 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Adams Diversified Equity Fund by 6.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund's stock worth $29,125,000 after acquiring an additional 77,902 shares during the period. Bensler LLC raised its holdings in Adams Diversified Equity Fund by 6.8% in the 4th quarter. Bensler LLC now owns 987,718 shares of the closed-end fund's stock worth $23,034,000 after acquiring an additional 62,665 shares during the period. Waterfront Wealth Inc. raised its holdings in Adams Diversified Equity Fund by 1.3% in the 3rd quarter. Waterfront Wealth Inc. now owns 446,423 shares of the closed-end fund's stock worth $10,110,000 after acquiring an additional 5,716 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Adams Diversified Equity Fund by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 430,951 shares of the closed-end fund's stock worth $10,089,000 after acquiring an additional 5,457 shares during the period. 28.41% of the stock is owned by institutional investors and hedge funds.

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.

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