Peak Asset Management LLC Invests $823,000 in Adams Diversified Equity Fund, Inc. $ADX

Peak Asset Management LLC acquired a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,200 shares of the closed-end fund’s stock, valued at approximately $823,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Adams Diversified Equity Fund by 8,591.1% during the 4th quarter. UMB Bank n.a. now owns 213,801 shares of the closed-end fund’s stock worth $4,986,000 after purchasing an additional 211,341 shares during the period. Independent Financial Group LLC acquired a new position in Adams Diversified Equity Fund in the first quarter valued at $3,107,000. Evolve Private Wealth LLC acquired a new position in Adams Diversified Equity Fund in the fourth quarter valued at $1,931,000. Lazard Asset Management LLC lifted its position in Adams Diversified Equity Fund by 2.2% during the fourth quarter. Lazard Asset Management LLC now owns 3,589,875 shares of the closed-end fund’s stock worth $83,716,000 after buying an additional 77,993 shares during the period. Finally, Raymond James Financial Inc. boosted 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 worth $29,125,000 after buying an additional 77,902 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Performance

ADX opened at $25.74 on Tuesday. Adams Diversified Equity Fund, Inc. has a 12 month low of $20.91 and a 12 month high of $26.56. The business has a 50-day moving average of $25.73 and a two-hundred day moving average of $24.40.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be issued a $0.50 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 7.8%.

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.