80,229 Shares in Adams Diversified Equity Fund, Inc. $ADX Acquired by PMG Family Office LLC

Key Points

• PMG Family Office LLC bought a new position of 80,229 shares of Adams Diversified Equity Fund (NYSE:ADX) in Q3, valued at about $1.79 million, representing roughly 2.0% of PMG's portfolio and its 13th largest holding (PMG owned 0.07% of ADX at quarter end).
• Adams Diversified raised its quarterly dividend to $0.47 (from $0.46), equal to a $1.88 annualized payout and a 8.3% dividend yield.
• Institutional investors own about 28.41% of ADX; shares opened at $22.54 with a 12‑month range of $16.50 to $23.85.

PMG Family Office LLC bought a new position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 80,229 shares of the closed-end fund's stock, valued at approximately $1,789,000. Adams Diversified Equity Fund comprises about 2.0% of PMG Family Office LLC's portfolio, making the stock its 13th biggest holding. PMG Family Office LLC owned 0.07% of Adams Diversified Equity Fund at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Uniting Wealth Partners LLC lifted its holdings in shares of Adams Diversified Equity Fund by 2.1% during the third quarter. Uniting Wealth Partners LLC now owns 21,867 shares of the closed-end fund's stock worth $488,000 after purchasing an additional 449 shares during the period. Blue Trust Inc. grew its stake in shares of Adams Diversified Equity Fund by 2.1% in the third quarter. Blue Trust Inc. now owns 26,846 shares of the closed-end fund's stock worth $599,000 after purchasing an additional 550 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Adams Diversified Equity Fund by 5.1% in the third quarter. Kingswood Wealth Advisors LLC now owns 11,475 shares of the closed-end fund's stock valued at $256,000 after purchasing an additional 554 shares during the period. Uhlmann Price Securities LLC increased its holdings in Adams Diversified Equity Fund by 2.1% in the third quarter. Uhlmann Price Securities LLC now owns 32,905 shares of the closed-end fund's stock valued at $734,000 after purchasing an additional 676 shares during the period. Finally, Prostatis Group LLC raised its position in Adams Diversified Equity Fund by 2.1% during the 3rd quarter. Prostatis Group LLC now owns 33,566 shares of the closed-end fund's stock worth $749,000 after purchasing an additional 688 shares during the last quarter. Institutional investors own 28.41% of the company's stock.

Adams Diversified Equity Fund Stock Down 0.9%

Shares of ADX opened at $22.54 on Thursday. The stock's 50-day moving average price is $23.12 and its two-hundred day moving average price is $22.86. Adams Diversified Equity Fund, Inc. has a 12 month low of $16.50 and a 12 month high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were paid a $0.47 dividend. This is an increase from Adams Diversified Equity Fund's previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Monday, January 26th.

Adams Diversified Equity Fund 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.