Adams Diversified Equity Fund (NYSE:ADX) Hits New 12-Month High – Here’s Why

Adams Diversified Equity Fund, Inc. (NYSE:ADX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.17 and last traded at $26.0750, with a volume of 245836 shares traded. The stock had previously closed at $26.11.

Adams Diversified Equity Fund Stock Up 0.6%

The company’s 50 day simple moving average is $25.16 and its 200 day simple moving average is $23.86.

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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 7.4%. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, April 27th.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Several institutional investors have recently added to or reduced their stakes in ADX. Caldwell Trust Co acquired a new stake in Adams Diversified Equity Fund in the 4th quarter worth about $45,000. Assetmark Inc. grew its holdings in Adams Diversified Equity Fund by 367.9% in the 1st quarter. Assetmark Inc. now owns 2,040 shares of the closed-end fund’s stock valued at $45,000 after buying an additional 1,604 shares during the period. Bayban acquired a new position in shares of Adams Diversified Equity Fund during the 4th quarter valued at about $57,000. Resources Management Corp CT ADV acquired a new position in shares of Adams Diversified Equity Fund during the 1st quarter valued at about $89,000. Finally, IFP Advisors Inc increased its stake in shares of Adams Diversified Equity Fund by 119.4% during the 4th quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock valued at $101,000 after acquiring an additional 2,361 shares during the last quarter. 28.41% of the stock is currently owned by institutional investors and hedge funds.

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.