Concorde Asset Management LLC Takes $1.01 Million Position in Adams Diversified Equity Fund, Inc. $ADX

Concorde Asset Management LLC purchased a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the second quarter, Holdings Channel.com reports. The firm purchased 39,657 shares of the closed-end fund’s stock, valued at approximately $1,013,000. Adams Diversified Equity Fund comprises about 0.6% of Concorde Asset Management LLC’s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of ADX. Independent Financial Group LLC acquired a new stake in Adams Diversified Equity Fund during the first quarter valued at $3,107,000. Bensler LLC increased 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. Evolve Private Wealth LLC purchased a new stake in shares of Adams Diversified Equity Fund during the 2nd quarter worth about $2,018,000. Royal Bank of Canada raised its stake in shares of Adams Diversified Equity Fund by 4.7% during 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 in the last quarter. Finally, Roberts Glore & Co. Inc. IL acquired a new stake in shares of Adams Diversified Equity Fund during the 2nd quarter valued at about $4,109,000. 28.41% of the stock is currently owned by hedge funds and other institutional investors.

Adams Diversified Equity Fund Price Performance

Shares of NYSE ADX opened at $26.04 on Friday. The business has a 50 day simple moving average of $25.77 and a 200 day simple moving average of $24.46. Adams Diversified Equity Fund, Inc. has a 52 week low of $20.91 and a 52 week high of $26.56.

Adams Diversified Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 7.7%.

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.