Northwestern Mutual Wealth Management Co. Takes $1.22 Million Position in Adams Diversified Equity Fund, Inc. $ADX

Key Points

• Northwestern Mutual Wealth Management acquired 47,750 shares of Adams Diversified Equity Fund during the second quarter, representing a position valued at approximately $1.22 million. Institutional investors collectively own 28.41% of ADX.
• ADX shares opened at $25.88, near their 52-week high of $26.56, with 50-day and 200-day moving averages of $25.74 and $24.42, respectively.
• Adams Diversified Equity Fund raised its quarterly dividend to $0.50 per share from $0.48, implying a $2.00 annualized payout and a 7.7% yield.

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 47,750 shares of the closed-end fund's stock, valued at approximately $1,220,000.

A number of other large investors also recently added to or reduced their stakes in ADX. NewEdge Advisors LLC lifted its stake in Adams Diversified Equity Fund by 4.4% in 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 last quarter. Jane Street Group LLC bought a new position in shares of Adams Diversified Equity Fund during the first quarter valued at about $525,000. Raymond James Financial Inc. grew its stake 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 valued at $26,664,000 after buying an additional 27,102 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Adams Diversified Equity Fund by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 106,697 shares of the closed-end fund's stock worth $2,367,000 after buying an additional 12,663 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in shares of Adams Diversified Equity Fund in the second quarter worth about $401,000. Hedge funds and other institutional investors own 28.41% of the company's stock.

Adams Diversified Equity Fund Price Performance

NYSE ADX opened at $25.88 on Wednesday. Adams Diversified Equity Fund, Inc. has a 1-year low of $20.91 and a 1-year high of $26.56. The stock has a 50-day moving average of $25.74 and a 200-day moving average of $24.42.

Adams Diversified Equity Fund Increases Dividend

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

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.

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