Adams Diversified Equity Fund (NYSE:ADX) Sets New 1-Year High – Should You Buy?

Adams Diversified Equity Fund, Inc. (NYSE:ADX)’s share price reached a new 52-week high on Tuesday . The company traded as high as $25.84 and last traded at $25.74, with a volume of 264831 shares. The stock had previously closed at $25.59.

Adams Diversified Equity Fund Trading Up 0.6%

The business has a fifty day moving average of $24.95 and a 200-day moving average of $23.73.

Adams Diversified Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, April 27th were given a $0.48 dividend. The ex-dividend date was Monday, April 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 7.5%. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. PMG Family Office LLC bought a new position in Adams Diversified Equity Fund in the third quarter worth $1,789,000. ARQ Wealth Advisors LLC lifted its position in Adams Diversified Equity Fund by 54.8% during the third quarter. ARQ Wealth Advisors LLC now owns 208,347 shares of the closed-end fund’s stock valued at $4,646,000 after buying an additional 73,780 shares during the period. Bensler LLC boosted its holdings in shares of 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 buying an additional 62,665 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Adams Diversified Equity Fund by 2.0% during the 4th quarter. Blue Trust Inc. now owns 27,386 shares of the closed-end fund’s stock valued at $639,000 after buying an additional 540 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its stake in Adams Diversified Equity Fund by 1.3% during the fourth quarter. Uncommon Cents Investing LLC now owns 185,011 shares of the closed-end fund’s stock worth $4,314,000 after acquiring an additional 2,434 shares in the last quarter. Institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Company Profile

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.