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

Key Points

• Adams Diversified Equity Fund (NYSE:ADX) hit a new 52-week high of $26.34 during Tuesday trading, with the stock last changing hands at $26.35, up about 0.9%.
• The fund recently raised its quarterly dividend to $0.50 per share from $0.48, putting the annualized payout at $2.00 and the yield at roughly 7.6%.
• Institutional ownership remains notable, with 28.41% of shares held by institutional investors and hedge funds, and several firms recently increased their positions.

Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.34 and last traded at $26.35, with a volume of 74735 shares changing hands. The stock had previously closed at $26.06.

Adams Diversified Equity Fund Trading Up 0.9%

The business's fifty day moving average price is $25.29 and its 200 day moving average price is $23.94.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.6%. This is a boost from Adams Diversified Equity Fund's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, July 27th.

Institutional Investors Weigh In On Adams Diversified Equity Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Independent Financial Group LLC acquired a new stake in shares of Adams Diversified Equity Fund during the first quarter worth approximately $3,107,000. Bensler LLC boosted its holdings in shares of 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 in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Adams Diversified Equity Fund by 8.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 12,484 shares of the closed-end fund's stock worth $291,000 after acquiring an additional 1,009 shares in the last quarter. Savvy Advisors Inc. bought a new stake in Adams Diversified Equity Fund during the 4th quarter worth approximately $466,000. Finally, Stratos Wealth Partners LTD. grew its position in Adams Diversified Equity Fund by 42.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 13,839 shares of the closed-end fund's stock worth $323,000 after acquiring an additional 4,116 shares during the last quarter. 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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