Adams Diversified Equity Fund (NYSE:ADX) Reaches New 52-Week High – Still a Buy?

Adams Diversified Equity Fund, Inc. (NYSE:ADX) reached a new 52-week high on Wednesday . The stock 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 Trading Down 0.1%

The company has a fifty day moving average price of $24.90 and a 200-day moving average price of $23.69.

Adams Diversified Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, April 27th were given a $0.48 dividend. 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

A number of hedge funds have recently bought and sold shares of ADX. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Adams Diversified Equity Fund by 1.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 44,936 shares of the closed-end fund’s stock worth $1,148,000 after buying an additional 843 shares during the last quarter. Western Wealth Management LLC purchased a new position in Adams Diversified Equity Fund in the first quarter worth about $133,000. NewEdge Advisors LLC increased its stake in Adams Diversified Equity Fund by 7.8% during the first quarter. NewEdge Advisors LLC now owns 33,811 shares of the closed-end fund’s stock worth $740,000 after acquiring an additional 2,451 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Adams Diversified Equity Fund during the first quarter worth approximately $276,000. Finally, Bank of America Corp DE increased its stake in Adams Diversified Equity Fund by 1.0% during the first quarter. Bank of America Corp DE now owns 283,991 shares of the closed-end fund’s stock worth $6,217,000 after acquiring an additional 2,703 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company’s stock.

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.