Adams Diversified Equity Fund, Inc. $ADX Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its ADX stake by 4.7% in the first quarter, acquiring 44,446 additional shares and bringing its ownership to 980,325 shares, or 0.80% of the fund.
• Institutional investors collectively own 28.41% of Adams Diversified Equity Fund, with several firms—including Raymond James Financial and Ameriprise Financial—also increasing their positions.
• ADX announced a higher quarterly dividend of $0.50 per share, up from $0.48, implying an annualized dividend of $2.00 and a 7.7% yield; shares recently opened at $25.85.

Royal Bank of Canada lifted its stake in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 980,325 shares of the closed-end fund's stock after acquiring an additional 44,446 shares during the period. Royal Bank of Canada owned 0.80% of Adams Diversified Equity Fund worth $21,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADX. NewEdge Advisors LLC raised its stake in Adams Diversified Equity Fund by 4.4% during the first quarter. NewEdge Advisors LLC now owns 36,365 shares of the closed-end fund's stock worth $691,000 after purchasing an additional 1,530 shares during the period. Jane Street Group LLC acquired a new position in Adams Diversified Equity Fund during the 1st quarter worth approximately $525,000. Raymond James Financial Inc. lifted its position in shares of Adams Diversified Equity Fund by 2.3% during the second quarter. Raymond James Financial Inc. now owns 1,228,172 shares of the closed-end fund's stock worth $26,664,000 after purchasing an additional 27,102 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Adams Diversified Equity Fund by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 106,697 shares of the closed-end fund's stock valued at $2,367,000 after buying an additional 12,663 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in Adams Diversified Equity Fund in the second quarter valued at about $401,000. 28.41% of the stock is owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Trading Down 0.8%

NYSE ADX opened at $25.85 on Thursday. The company's fifty day moving average price is $25.47 and its two-hundred day moving average price is $24.14. Adams Diversified Equity Fund, Inc. has a 12 month low of $20.91 and a 12 month high of $26.49.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, July 27th. This represents a $2.00 annualized dividend and a yield of 7.7%. This is a boost from Adams Diversified Equity Fund's previous quarterly dividend of $0.48.

About Adams Diversified Equity Fund

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.

Want to see what other hedge funds are holding ADX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report).

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