Adams Diversified Equity Fund (NYSE:ADX) Hits New 12-Month High – What’s Next?

Adams Diversified Equity Fund, Inc. (NYSE:ADX) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.85 and last traded at $23.8330, with a volume of 37057 shares traded. The stock had previously closed at $23.66.

Adams Diversified Equity Fund Stock Up 0.9%

The firm’s fifty day moving average is $22.80 and its 200 day moving average is $22.92.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were issued a $0.47 dividend. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, January 26th. This represents a $1.88 annualized dividend and a yield of 7.9%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in 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 acquiring an additional 77,993 shares during the period. Raymond James Financial Inc. grew its position in Adams Diversified Equity Fund by 6.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund’s stock worth $29,125,000 after purchasing an additional 77,902 shares during the last quarter. Bensler LLC grew its position in Adams Diversified Equity Fund by 6.8% in the 4th quarter. Bensler LLC now owns 987,718 shares of the closed-end fund’s stock worth $23,034,000 after purchasing an additional 62,665 shares during the last quarter. Waterfront Wealth Inc. grew its position in Adams Diversified Equity Fund by 1.3% in the 3rd quarter. Waterfront Wealth Inc. now owns 446,423 shares of the closed-end fund’s stock worth $10,110,000 after purchasing an additional 5,716 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Adams Diversified Equity Fund by 1.3% in the 4th 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 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.