Adams Diversified Equity Fund, Inc. $ADX Position Lifted by Bensler LLC

Key Points

• Bensler LLC boosted its stake in Adams Diversified Equity Fund by 6.8% in the fourth quarter, adding 62,665 shares to bring its total to 987,718 shares valued at about $23.0 million.
• The fund recently raised its quarterly dividend to $0.48 per share from $0.47, which works out to an annualized payout of $1.92 and a dividend yield of 7.8%.
• ADX shares were trading up 0.8% at $24.55, near their 52-week high of $24.74, while the stock’s 52-week low was $19.22.

Bensler LLC increased its position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 987,718 shares of the closed-end fund's stock after acquiring an additional 62,665 shares during the quarter. Adams Diversified Equity Fund makes up about 2.3% of Bensler LLC's portfolio, making the stock its 8th biggest holding. Bensler LLC owned approximately 0.84% of Adams Diversified Equity Fund worth $23,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ADX. Westfuller Advisors LLC purchased a new position in Adams Diversified Equity Fund during the third quarter worth about $28,000. Caldwell Trust Co purchased a new stake in shares of Adams Diversified Equity Fund in the 4th quarter valued at approximately $45,000. CWM LLC increased its holdings in shares of Adams Diversified Equity Fund by 27.3% during the 3rd quarter. CWM LLC now owns 3,609 shares of the closed-end fund's stock worth $80,000 after buying an additional 773 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Adams Diversified Equity Fund by 817.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 8,957 shares of the closed-end fund's stock valued at $200,000 after buying an additional 7,981 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Adams Diversified Equity Fund during the 3rd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 28.41% of the company's stock.

Adams Diversified Equity Fund Trading Up 0.8%

Shares of Adams Diversified Equity Fund stock opened at $24.55 on Friday. Adams Diversified Equity Fund, Inc. has a fifty-two week low of $19.22 and a fifty-two week high of $24.74. The stock has a 50 day moving average of $23.13 and a 200 day moving average of $23.11.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, April 27th will be paid a $0.48 dividend. This is a boost from Adams Diversified Equity Fund's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.92 annualized dividend and a dividend yield of 7.8%.

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.

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