Adams Diversified Equity Fund (NYSE:ADX) Reaches New 1-Year High - Still a Buy?

Key Points

• Adams Diversified Equity Fund (NYSE:ADX) reached a new 52-week high of $22.81 during trading, indicating positive market performance.
• Significant institutional interest has been seen, with firms like Raymond James Financial and Royal Bank of Canada increasing their stakes in the fund by substantial margins.
• As of the latest data, institutional investors own approximately 28.41% of the company's stock, highlighting the fund's appeal to large investors.

Adams Diversified Equity Fund, Inc. (NYSE:ADX - ) shares hit a new 52-week high during trading on Monday . The stock traded as high as $22.81 and last traded at $22.75, with a volume of 135174 shares. The stock had previously closed at $22.50.

Adams Diversified Equity Fund Stock Up 1.1%

The company has a fifty day moving average of $22.07 and a 200 day moving average of $20.93.

Institutional Trading of Adams Diversified Equity Fund

A number of large investors have recently modified their holdings of ADX. Raymond James Financial Inc. raised its position in shares of Adams Diversified Equity Fund by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,228,172 shares of the closed-end fund's stock valued at $26,664,000 after purchasing an additional 27,102 shares during the last quarter. Royal Bank of Canada boosted its holdings in Adams Diversified Equity Fund by 39.6% in the 1st quarter. Royal Bank of Canada now owns 1,054,872 shares of the closed-end fund's stock worth $20,032,000 after buying an additional 299,425 shares during the last quarter. Bensler LLC boosted its position in Adams Diversified Equity Fund by 8.9% during the second quarter. Bensler LLC now owns 857,856 shares of the closed-end fund's stock worth $18,624,000 after acquiring an additional 70,344 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Adams Diversified Equity Fund by 6.5% in the second quarter. Waterfront Wealth Inc. now owns 440,707 shares of the closed-end fund's stock valued at $9,568,000 after purchasing an additional 26,709 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Adams Diversified Equity Fund by 3.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 428,357 shares of the closed-end fund's stock worth $9,381,000 after buying an additional 14,834 shares during the period. Hedge funds and other institutional investors own 28.41% of the company's stock.

About Adams Diversified Equity Fund

Adams Diversified Equity Fund, Inc is a publicly owned investment manager. It primarily provides its services to investment companies. The firm is a large advisory firm The firm is actively engaged in businesses, including commodity pool operator or commodity trading advisor. The firm launches equity.

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