Prevail Innovative Wealth Advisors LLC Cuts Stake in Adams Diversified Equity Fund, Inc. $ADX

Prevail Innovative Wealth Advisors LLC lessened its holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX – Free Report) by 87.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,846 shares of the closed-end fund’s stock after selling 68,708 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Adams Diversified Equity Fund were worth $230,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Westfuller Advisors LLC purchased a new stake in shares of Adams Diversified Equity Fund during the third quarter worth $28,000. Caldwell Trust Co purchased a new position in Adams Diversified Equity Fund in the fourth quarter valued at $45,000. IFP Advisors Inc boosted its holdings in Adams Diversified Equity Fund by 119.4% in the fourth quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock valued at $101,000 after purchasing an additional 2,361 shares during the period. CIBC Private Wealth Group LLC grew its stake in Adams Diversified Equity Fund by 817.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 8,957 shares of the closed-end fund’s stock worth $200,000 after purchasing an additional 7,981 shares in the last quarter. Finally, Dana Investment Advisors Inc. acquired a new position in Adams Diversified Equity Fund during the 4th quarter worth $212,000. Institutional investors and hedge funds own 28.41% of the company’s stock.

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Adams Diversified Equity Fund Stock Performance

Shares of NYSE ADX opened at $24.89 on Friday. The stock’s 50-day moving average is $23.47 and its two-hundred day moving average is $23.24. Adams Diversified Equity Fund, Inc. has a 1-year low of $19.91 and a 1-year high of $25.30.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, April 27th will be paid 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 7.7%.

Adams Diversified Equity Fund Company Profile

(Free Report)

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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