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

Adams Diversified Equity Fund, Inc. (NYSE:ADX) reached a new 52-week high on Wednesday . The company traded as high as $25.70 and last traded at $25.6750, with a volume of 107216 shares trading hands. The stock had previously closed at $25.55.

Adams Diversified Equity Fund Stock Performance

The business has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $23.65.

Adams Diversified Equity Fund Increases Dividend

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

Institutional Investors Weigh In On Adams Diversified Equity Fund

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings in shares of Adams Diversified Equity Fund by 2.2% in the fourth quarter. Lazard Asset Management LLC now owns 3,589,875 shares of the closed-end fund’s stock valued at $83,716,000 after purchasing an additional 77,993 shares during the last quarter. Raymond James Financial Inc. grew its stake in Adams Diversified Equity Fund by 6.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,306,074 shares of the closed-end fund’s stock valued at $29,125,000 after buying an additional 77,902 shares during the last quarter. Bensler LLC raised its holdings 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 valued at $23,034,000 after acquiring an additional 62,665 shares during the period. Royal Bank of Canada lifted its position in Adams Diversified Equity Fund by 4.7% during the first quarter. Royal Bank of Canada now owns 980,325 shares of the closed-end fund’s stock worth $21,459,000 after acquiring an additional 44,446 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Adams Diversified Equity Fund by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 430,951 shares of the closed-end fund’s stock worth $10,089,000 after acquiring an additional 5,457 shares during the period. Institutional investors and hedge funds own 28.41% of the company’s stock.

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.