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

Adams Diversified Equity Fund, Inc. (NYSE:ADX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.54 and last traded at $26.5390, with a volume of 86514 shares. The stock had previously closed at $26.47.

Adams Diversified Equity Fund Stock Up 0.2%

The firm’s 50 day simple moving average is $25.54 and its two-hundred day simple moving average is $24.25.

Adams Diversified Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, July 27th will be paid a $0.50 dividend. The ex-dividend date is Monday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 7.5%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in Adams Diversified Equity Fund by 3.8% in the fourth quarter. Bank of Montreal Can now owns 11,886 shares of the closed-end fund’s stock valued at $277,000 after acquiring an additional 435 shares during the period. MML Investors Services LLC raised its position in shares of Adams Diversified Equity Fund by 1.3% during the fourth quarter. MML Investors Services LLC now owns 32,763 shares of the closed-end fund’s stock worth $764,000 after purchasing an additional 436 shares during the period. Uniting Wealth Partners LLC raised its position in shares of Adams Diversified Equity Fund by 2.0% during the fourth quarter. Uniting Wealth Partners LLC now owns 22,306 shares of the closed-end fund’s stock worth $520,000 after purchasing an additional 439 shares during the period. Capstone Financial Advisors Inc. lifted its holdings in shares of Adams Diversified Equity Fund by 1.1% in the 4th quarter. Capstone Financial Advisors Inc. now owns 42,513 shares of the closed-end fund’s stock worth $991,000 after purchasing an additional 451 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in shares of Adams Diversified Equity Fund by 1.9% in the 2nd quarter. Quad Cities Investment Group LLC now owns 29,033 shares of the closed-end fund’s stock worth $742,000 after purchasing an additional 545 shares in the last quarter. 28.41% of the stock is owned by institutional investors and hedge funds.

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.