King Luther Capital Management Corp Invests $1.12 Million in Adams Diversified Equity Fund, Inc. $ADX

King Luther Capital Management Corp acquired a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 50,062 shares of the closed-end fund’s stock, valued at approximately $1,116,000.

A number of other institutional investors have also modified their holdings of the company. Westbourne Investment Advisors Inc. purchased a new position in Adams Diversified Equity Fund in the second quarter valued at about $1,552,000. Penserra Capital Management LLC boosted its position in shares of Adams Diversified Equity Fund by 21.7% in the third quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund’s stock worth $6,581,000 after buying an additional 52,577 shares during the period. Waterfront Wealth Inc. grew its stake in shares of Adams Diversified Equity Fund by 6.5% in the second quarter. Waterfront Wealth Inc. now owns 440,707 shares of the closed-end fund’s stock valued at $9,568,000 after buying an additional 26,709 shares in the last quarter. Bensler LLC raised its holdings in shares of Adams Diversified Equity Fund by 7.8% during the 3rd quarter. Bensler LLC now owns 925,053 shares of the closed-end fund’s stock valued at $20,629,000 after buying an additional 67,197 shares during the period. Finally, Shaker Financial Services LLC acquired a new position in Adams Diversified Equity Fund during the 3rd quarter worth approximately $5,286,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Performance

NYSE ADX opened at $23.14 on Friday. Adams Diversified Equity Fund, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $23.85. The business has a 50 day moving average price of $23.18 and a two-hundred day moving average price of $22.71.

Adams Diversified Equity Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, January 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46.

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.