RB Capital Management LLC bought a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 211,303 shares of the closed-end fund's stock, valued at approximately $5,399,000. Adams Diversified Equity Fund comprises approximately 1.1% of RB Capital Management LLC's investment portfolio, making the stock its 23rd largest holding. RB Capital Management LLC owned about 0.17% of Adams Diversified Equity Fund at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ADX. Lazard Asset Management LLC boosted its position in shares of Adams Diversified Equity Fund by 2.2% in the 4th quarter. Lazard Asset Management LLC now owns 3,589,875 shares of the closed-end fund's stock worth $83,716,000 after buying an additional 77,993 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Adams Diversified Equity Fund by 6.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund's stock valued at $29,125,000 after acquiring an additional 77,902 shares in the last quarter. Bensler LLC increased its holdings in Adams Diversified Equity Fund by 6.8% during the 4th quarter. Bensler LLC now owns 987,718 shares of the closed-end fund's stock valued at $23,034,000 after acquiring an additional 62,665 shares in the last quarter. Royal Bank of Canada raised its position in Adams Diversified Equity Fund by 4.7% during the first quarter. Royal Bank of Canada now owns 980,325 shares of the closed-end fund's stock worth $21,459,000 after acquiring an additional 44,446 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Adams Diversified Equity Fund by 13.5% during the fourth quarter. Stifel Financial Corp now owns 403,432 shares of the closed-end fund's stock worth $9,408,000 after acquiring an additional 47,986 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company's stock.
Adams Diversified Equity Fund Stock Down 0.3%
Shares of NYSE ADX opened at $25.97 on Friday. The firm's 50-day moving average is $25.79 and its two-hundred day moving average is $24.47. Adams Diversified Equity Fund, Inc. has a 12-month low of $20.91 and a 12-month 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. Investors of record on Monday, July 27th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, July 27th. This is an increase from Adams Diversified Equity Fund's previous quarterly dividend of $0.48.
Adams Diversified Equity Fund Company Profile
(
Free Report)
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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