Adams Diversified Equity Fund (NYSE:ADX) Sets New 12-Month High - Time to Buy?

Key Points

• ADX hit a new 52-week high of $24.19 (last $24.1050), trading up about 0.6% on the day with volume ~117,491 and 50-/200-day moving averages near $22.87/$22.96.
• Dividend increase: ADX raised its quarterly payout to $0.48 ($1.92 annual), implying an 8.0% yield; the record date is Apr 27 and the dividend is payable May 29.
• Institutional investors have been adding to positions—several firms significantly increased stakes in recent quarters—leaving institutions owning roughly 28.41% of the fund.

Adams Diversified Equity Fund, Inc. (NYSE:ADX - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $24.19 and last traded at $24.1050, with a volume of 117491 shares. The stock had previously closed at $23.98.

Adams Diversified Equity Fund Trading Up 0.6%

The firm has a 50-day moving average of $22.87 and a 200 day moving average of $22.96.

Adams Diversified Equity Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, April 27th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Monday, April 27th. This is a positive change from Adams Diversified Equity Fund's previous quarterly dividend of $0.47.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC lifted its stake in shares of Adams Diversified Equity Fund by 21.7% in the third quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund's stock worth $6,581,000 after acquiring an additional 52,577 shares in the last quarter. Prevail Innovative Wealth Advisors LLC grew its position in shares of Adams Diversified Equity Fund by 209.5% during the third quarter. Prevail Innovative Wealth Advisors LLC now owns 78,554 shares of the closed-end fund's stock worth $1,752,000 after buying an additional 53,172 shares in the last quarter. King Luther Capital Management Corp acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth approximately $1,116,000. PMG Family Office LLC acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth approximately $1,789,000. Finally, ARQ Wealth Advisors LLC grew its position in shares of Adams Diversified Equity Fund by 54.8% during the third quarter. ARQ Wealth Advisors LLC now owns 208,347 shares of the closed-end fund's stock worth $4,646,000 after buying an additional 73,780 shares in the last quarter. Institutional investors and hedge funds own 28.41% of the company's stock.

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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