Uniting Wealth Partners LLC Makes New Investment in Adams Diversified Equity Fund, Inc. $ADX

Uniting Wealth Partners LLC purchased a new stake in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the 2nd quarter, HoldingsChannel reports. The firm purchased 23,192 shares of the closed-end fund’s stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in shares of 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 valued at $83,716,000 after acquiring an additional 77,993 shares during the last quarter. Raymond James Financial Inc. grew its position in Adams Diversified Equity Fund by 6.3% during 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 acquiring an additional 77,902 shares during the last quarter. Bensler LLC grew its position in Adams Diversified Equity Fund by 6.8% during the 4th quarter. Bensler LLC now owns 987,718 shares of the closed-end fund’s stock worth $23,034,000 after acquiring an additional 62,665 shares during the last quarter. Royal Bank of Canada increased its stake in Adams Diversified Equity Fund by 4.7% in the 1st quarter. Royal Bank of Canada now owns 980,325 shares of the closed-end fund’s stock worth $21,459,000 after purchasing an additional 44,446 shares during the period. Finally, Stifel Financial Corp increased its stake in Adams Diversified Equity Fund by 13.5% in the 4th quarter. Stifel Financial Corp now owns 403,432 shares of the closed-end fund’s stock worth $9,408,000 after purchasing an additional 47,986 shares during the period. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Trading Down 0.0%

Shares of ADX stock opened at $26.29 on Monday. Adams Diversified Equity Fund, Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $26.56. The stock has a 50 day moving average price of $25.59 and a two-hundred day moving average price of $24.29.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 7.6%.

Adams Diversified Equity Fund 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.