Adams Diversified Equity Fund, Inc. $ADX Shares Purchased by Prevail Innovative Wealth Advisors LLC

Key Points

• Prevail Innovative Wealth Advisors boosted its stake in Adams Diversified Equity Fund (NYSE:ADX) by 209.5% in Q3, adding 53,172 shares to hold 78,554 shares (about 0.07%) valued at $1.75 million.
• ADX increased its quarterly dividend to $0.47 (from $0.46), an annualized $1.88 payout representing a roughly 8.2% yield, paid Feb. 27 with a Jan. 26 record date.
• Other institutions also added positions—Penserra Capital rose 21.7% to 295,117 shares ($6.58M) and Bensler owns 925,053 shares ($20.63M)—and about 28.41% of ADX is held by hedge funds and institutional investors.

Prevail Innovative Wealth Advisors LLC boosted its position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 209.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,554 shares of the closed-end fund's stock after acquiring an additional 53,172 shares during the quarter. Prevail Innovative Wealth Advisors LLC owned 0.07% of Adams Diversified Equity Fund worth $1,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Westbourne Investment Advisors Inc. acquired a new position in shares of Adams Diversified Equity Fund in the second quarter valued at approximately $1,552,000. Penserra Capital Management LLC lifted its holdings in Adams Diversified Equity Fund by 21.7% during the 3rd quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund's stock worth $6,581,000 after buying an additional 52,577 shares in the last quarter. King Luther Capital Management Corp purchased a new position in Adams Diversified Equity Fund in the 3rd quarter valued at approximately $1,116,000. Bensler LLC boosted its position in Adams Diversified Equity Fund by 7.8% in the 3rd quarter. Bensler LLC now owns 925,053 shares of the closed-end fund's stock valued at $20,629,000 after buying an additional 67,197 shares during the period. Finally, Shaker Financial Services LLC acquired a new position in shares of Adams Diversified Equity Fund in the third quarter worth $5,286,000. 28.41% of the stock is currently owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Stock Down 1.0%

Adams Diversified Equity Fund stock opened at $22.82 on Friday. Adams Diversified Equity Fund, Inc. has a twelve month low of $16.50 and a twelve month high of $23.85. The stock's fifty day simple moving average is $23.22 and its 200-day simple moving average is $22.80.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend was Monday, January 26th. This is a positive change from Adams Diversified Equity Fund's previous quarterly dividend of $0.46.

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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