1607 Capital Partners LLC Trims Stake in Adams Diversified Equity Fund, Inc. $ADX

Key Points

• 1607 Capital Partners LLC has decreased its stake in Adams Diversified Equity Fund by 12.5%, selling 93,726 shares to end up with 653,135 shares valued at approximately $12.4 million.
• The fund announced a quarterly dividend of $0.46, translating to an annualized yield of 8.5%, indicative of its ability to provide substantial returns to investors.
• Other institutional investors have made significant adjustments to their positions, with Ameriprise Financial Inc. increasing its holdings by 66.1% in the fourth quarter.

1607 Capital Partners LLC trimmed its holdings in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 653,135 shares of the closed-end fund's stock after selling 93,726 shares during the quarter. 1607 Capital Partners LLC owned about 0.56% of Adams Diversified Equity Fund worth $12,403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Polar Asset Management Partners Inc. purchased a new position in Adams Diversified Equity Fund during the fourth quarter worth about $1,512,000. Ameriprise Financial Inc. boosted its holdings in shares of Adams Diversified Equity Fund by 66.1% in the 4th quarter. Ameriprise Financial Inc. now owns 57,220 shares of the closed-end fund's stock worth $1,156,000 after purchasing an additional 22,765 shares in the last quarter. Consolidated Portfolio Review Corp boosted its holdings in shares of Adams Diversified Equity Fund by 35.7% in the 1st quarter. Consolidated Portfolio Review Corp now owns 149,453 shares of the closed-end fund's stock worth $2,838,000 after purchasing an additional 39,292 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Adams Diversified Equity Fund by 68.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 34,748 shares of the closed-end fund's stock worth $660,000 after purchasing an additional 14,149 shares in the last quarter. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Adams Diversified Equity Fund in the 1st quarter worth about $504,000. 28.41% of the stock is currently owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Trading Down 1.0%

ADX opened at $21.67 on Tuesday. The stock has a 50-day moving average price of $21.69 and a 200-day moving average price of $20.29. Adams Diversified Equity Fund, Inc. has a 12-month low of $16.50 and a 12-month high of $22.63.

Adams Diversified Equity Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, July 28th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date was Monday, July 28th.

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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