Shaker Financial Services LLC Cuts Stock Position in Adams Diversified Equity Fund, Inc. $ADX

Shaker Financial Services LLC cut its holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 30.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,389 shares of the closed-end fund’s stock after selling 72,643 shares during the quarter. Adams Diversified Equity Fund accounts for approximately 1.2% of Shaker Financial Services LLC’s holdings, making the stock its 20th largest position. Shaker Financial Services LLC’s holdings in Adams Diversified Equity Fund were worth $3,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its holdings in shares of Adams Diversified Equity Fund by 21.7% during the 3rd quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund’s stock valued at $6,581,000 after buying an additional 52,577 shares during the period. Prevail Innovative Wealth Advisors LLC raised its holdings in Adams Diversified Equity Fund by 209.5% in the 3rd quarter. Prevail Innovative Wealth Advisors LLC now owns 78,554 shares of the closed-end fund’s stock worth $1,752,000 after purchasing an additional 53,172 shares during the period. King Luther Capital Management Corp bought a new position in Adams Diversified Equity Fund in the 3rd quarter worth $1,116,000. ARQ Wealth Advisors LLC raised its holdings in Adams Diversified Equity Fund by 54.8% in the 3rd quarter. ARQ Wealth Advisors LLC now owns 208,347 shares of the closed-end fund’s stock worth $4,646,000 after purchasing an additional 73,780 shares during the period. Finally, PMG Family Office LLC bought a new position in Adams Diversified Equity Fund in the 3rd quarter worth $1,789,000. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Trading Up 0.7%

Shares of ADX stock opened at $23.96 on Friday. Adams Diversified Equity Fund, Inc. has a 52-week low of $17.62 and a 52-week high of $24.14. The stock has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $22.95.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, April 27th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, April 27th. This is a positive change 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%.

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.