Shaker Financial Services LLC Buys 59,582 Shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX)

Key Points

• Shaker Financial Services LLC increased its holdings in Adams Diversified Equity Fund by 40.3%, owning 207,446 shares after purchasing an additional 59,582 shares in the first quarter.
• Other institutional investors, including Ameriprise Financial Inc. and Oppenheimer & Co. Inc., also raised their stakes in the fund significantly, demonstrating strong interest from multiple large investors.
• The fund recently announced a dividend of $0.46 payable on August 28th, reflecting a 837.0% yield, with shareholders of record set for July 29th.

Shaker Financial Services LLC boosted its stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 40.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,446 shares of the closed-end fund's stock after buying an additional 59,582 shares during the quarter. Adams Diversified Equity Fund makes up about 1.5% of Shaker Financial Services LLC's investment portfolio, making the stock its 15th largest position. Shaker Financial Services LLC owned 0.18% of Adams Diversified Equity Fund worth $3,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Adams Diversified Equity Fund during the fourth quarter worth $20,836,000. Penserra Capital Management LLC acquired a new stake in shares of Adams Diversified Equity Fund during the first quarter worth $4,469,000. 1607 Capital Partners LLC grew its stake in shares of Adams Diversified Equity Fund by 26.3% during the fourth quarter. 1607 Capital Partners LLC now owns 746,861 shares of the closed-end fund's stock worth $15,087,000 after purchasing an additional 155,295 shares during the period. Lazard Asset Management LLC grew its stake in shares of Adams Diversified Equity Fund by 5.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,997,278 shares of the closed-end fund's stock worth $60,545,000 after purchasing an additional 143,863 shares during the period. Finally, Bensler LLC grew its stake in shares of Adams Diversified Equity Fund by 13.0% during the first quarter. Bensler LLC now owns 787,512 shares of the closed-end fund's stock worth $14,955,000 after purchasing an additional 90,295 shares during the period. Institutional investors own 28.41% of the company's stock.

Adams Diversified Equity Fund Stock Up 0.3%

NYSE:ADX traded up $0.07 on Friday, reaching $21.71. The company's stock had a trading volume of 137,915 shares, compared to its average volume of 275,417. Adams Diversified Equity Fund, Inc. has a 1-year low of $16.50 and a 1-year high of $22.63. The business's 50-day moving average price is $21.38 and its two-hundred day moving average price is $20.18.

Adams Diversified Equity Fund Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, July 29th will be paid a $0.46 dividend. This represents a yield of 837.0%. The ex-dividend date of this dividend is 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.