Adams Diversified Equity Fund, Inc. (NYSE:ADX) Sees Significant Growth in Short Interest

Adams Diversified Equity Fund, Inc. (NYSE:ADX) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 881,993 shares, a growth of 27.4% from the February 26th total of 692,299 shares. Based on an average daily volume of 295,881 shares, the short-interest ratio is presently 3.0 days. Approximately 0.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Adams Diversified Equity Fund

Several hedge funds have recently bought and sold shares of ADX. NewEdge Advisors LLC lifted its position in shares of Adams Diversified Equity Fund by 4.4% in the first quarter. NewEdge Advisors LLC now owns 36,365 shares of the closed-end fund’s stock valued at $691,000 after acquiring an additional 1,530 shares in the last quarter. Jane Street Group LLC purchased a new stake in Adams Diversified Equity Fund during the 1st quarter worth about $525,000. Lido Advisors LLC increased its position in Adams Diversified Equity Fund by 1.9% during the 2nd quarter. Lido Advisors LLC now owns 48,223 shares of the closed-end fund’s stock worth $1,047,000 after purchasing an additional 895 shares in the last quarter. StoneX Group Inc. raised its stake in Adams Diversified Equity Fund by 29.1% in the 2nd quarter. StoneX Group Inc. now owns 21,695 shares of the closed-end fund’s stock valued at $471,000 after purchasing an additional 4,895 shares during the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in Adams Diversified Equity Fund in the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Trading Up 3.9%

ADX stock opened at $21.85 on Wednesday. The company’s 50 day simple moving average is $22.88 and its 200-day simple moving average is $22.87. Adams Diversified Equity Fund has a 12 month low of $16.50 and a 12 month high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Monday, January 26th. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46.

About Adams Diversified Equity Fund

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.