Bank of America Corp DE Makes New Investment in Adams Diversified Equity Fund, Inc. $ADX

Key Points

• Bank of America purchased 320,464 shares of Adams Diversified Equity Fund during the second quarter, valued at approximately $8.2 million and representing about 0.26% of the fund.
• Institutional investors and hedge funds own approximately 28.41% of ADX, with several smaller firms also increasing their positions recently.
• ADX shares opened at $25.98, near their 52-week high, while the fund increased its quarterly dividend to $0.50, implying an annualized yield of approximately 7.7%.

Bank of America Corp DE purchased a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 320,464 shares of the closed-end fund's stock, valued at approximately $8,188,000. Bank of America Corp DE owned approximately 0.26% of Adams Diversified Equity Fund at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Uniting Wealth Partners LLC lifted its position in shares of Adams Diversified Equity Fund by 2.0% in the 4th quarter. Uniting Wealth Partners LLC now owns 22,306 shares of the closed-end fund's stock valued at $520,000 after acquiring an additional 439 shares in the last quarter. Quad Cities Investment Group LLC raised its stake in Adams Diversified Equity Fund by 1.9% during the 2nd quarter. Quad Cities Investment Group LLC now owns 29,033 shares of the closed-end fund's stock valued at $742,000 after purchasing an additional 545 shares during the period. Blue Trust Inc. raised its stake in Adams Diversified Equity Fund by 2.0% during the 1st quarter. Blue Trust Inc. now owns 27,939 shares of the closed-end fund's stock valued at $612,000 after purchasing an additional 553 shares during the period. Uhlmann Price Securities LLC lifted its holdings in shares of Adams Diversified Equity Fund by 1.9% in the first quarter. Uhlmann Price Securities LLC now owns 34,195 shares of the closed-end fund's stock valued at $749,000 after purchasing an additional 630 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Adams Diversified Equity Fund by 3.3% during the fourth quarter. Harbour Investments Inc. now owns 23,289 shares of the closed-end fund's stock valued at $543,000 after buying an additional 743 shares in the last quarter. Institutional investors and hedge funds own 28.41% of the company's stock.

Adams Diversified Equity Fund Price Performance

NYSE:ADX opened at $25.98 on Friday. The business's fifty day moving average price is $25.90 and its 200 day moving average price is $24.85. Adams Diversified Equity Fund, Inc. has a 1-year low of $20.91 and a 1-year high of $26.56.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, July 27th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Monday, July 27th. This is a positive change from Adams Diversified Equity Fund's previous quarterly dividend of $0.48.

About Adams Diversified Equity Fund

Adams Diversified Equity Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol ADX. The fund seeks long-term capital appreciation and income by investing primarily in a diversified portfolio of publicly traded U.S. companies.

The fund provides investors with exposure to a range of industries and businesses through a professionally managed portfolio of common stocks and other equity securities. Its investment approach is designed for shareholders seeking diversified participation in the U.S.

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