Adams Diversified Equity Fund (NYSE:ADX) Reaches New 1-Year High – Time to Buy?

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

Adams Diversified Equity Fund Price Performance

The stock’s 50 day moving average price is $25.00 and its 200-day moving average price is $23.78.

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Adams Diversified Equity Fund Increases Dividend

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

Institutional Investors Weigh In On Adams Diversified Equity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Post Resch Tallon Group Inc. purchased a new position in shares of Adams Diversified Equity Fund in the second quarter valued at about $253,000. Quad Cities Investment Group LLC boosted its stake in shares of Adams Diversified Equity Fund by 1.9% in the second quarter. Quad Cities Investment Group LLC now owns 29,033 shares of the closed-end fund’s stock worth $742,000 after acquiring an additional 545 shares during the period. Avior Wealth Management LLC grew its position in shares of Adams Diversified Equity Fund by 2.5% during the second quarter. Avior Wealth Management LLC now owns 40,263 shares of the closed-end fund’s stock worth $1,029,000 after purchasing an additional 1,000 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Adams Diversified Equity Fund by 1.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 44,936 shares of the closed-end fund’s stock worth $1,148,000 after purchasing an additional 843 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in Adams Diversified Equity Fund during the 1st quarter valued at approximately $133,000. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Company Profile

(Get 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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