Waterfront Wealth Inc. Has $8.97 Million Stock Position in Adams Diversified Equity Fund, Inc. $ADX

Key Points

• Waterfront Wealth Inc. cut its ADX position by 13.7% in Q4, selling 61,107 shares and ending with 385,316 shares worth about $8.97 million, which is roughly 0.33% of ADX and its 10th-largest holding.
• Other institutions have been adding to ADX—Raymond James now owns 1,306,074 shares (~$29.1M) and Bensler LLC 925,053 shares (~$20.6M)—with institutional investors holding about 28.41% of the stock.
• Adams Diversified Equity Fund raised its quarterly dividend to $0.48 (annualized $1.92), an 8.0% yield; the ex-dividend/record date is April 27 and the payment date is May 29.

Waterfront Wealth Inc. cut its position in Adams Diversified Equity Fund, Inc. (NYSE:ADX - Free Report) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,316 shares of the closed-end fund's stock after selling 61,107 shares during the quarter. Adams Diversified Equity Fund comprises approximately 1.7% of Waterfront Wealth Inc.'s holdings, making the stock its 10th biggest position. Waterfront Wealth Inc. owned approximately 0.33% of Adams Diversified Equity Fund worth $8,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. grew its stake in shares of Adams Diversified Equity Fund by 6.3% in the third quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund's stock valued at $29,125,000 after buying an additional 77,902 shares in the last quarter. Bensler LLC boosted its position in Adams Diversified Equity Fund by 7.8% during the third quarter. Bensler LLC now owns 925,053 shares of the closed-end fund's stock worth $20,629,000 after purchasing an additional 67,197 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Adams Diversified Equity Fund by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 430,951 shares of the closed-end fund's stock worth $10,089,000 after purchasing an additional 5,457 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Adams Diversified Equity Fund by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 400,716 shares of the closed-end fund's stock worth $9,345,000 after purchasing an additional 13,722 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Adams Diversified Equity Fund by 8.8% during the third quarter. Advisors Asset Management Inc. now owns 380,023 shares of the closed-end fund's stock worth $8,475,000 after purchasing an additional 30,741 shares during the period. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Stock Down 0.1%

ADX stock opened at $23.96 on Monday. The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $22.96. Adams Diversified Equity Fund, Inc. has a one year low of $17.62 and a one year high of $24.14.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.48 per share. This is an increase from Adams Diversified Equity Fund's previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Monday, April 27th.

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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