King Luther Capital Management Corp Invests $1.12 Million in Adams Diversified Equity Fund, Inc. $ADX

King Luther Capital Management Corp purchased a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the third quarter, HoldingsChannel reports. The fund purchased 50,062 shares of the closed-end fund’s stock, valued at approximately $1,116,000.

A number of other large investors have also recently added to or reduced their stakes in ADX. Westbourne Investment Advisors Inc. acquired a new position in Adams Diversified Equity Fund during the 2nd quarter worth $1,552,000. Penserra Capital Management LLC lifted its position in shares of Adams Diversified Equity Fund by 21.7% during the third quarter. Penserra Capital Management LLC now owns 295,117 shares of the closed-end fund’s stock worth $6,581,000 after purchasing an additional 52,577 shares during the last quarter. Waterfront Wealth Inc. grew its stake in Adams Diversified Equity Fund by 6.5% in the second quarter. Waterfront Wealth Inc. now owns 440,707 shares of the closed-end fund’s stock worth $9,568,000 after purchasing an additional 26,709 shares in the last quarter. Bensler LLC grew its stake in Adams Diversified Equity Fund by 7.8% in the third quarter. Bensler LLC now owns 925,053 shares of the closed-end fund’s stock worth $20,629,000 after purchasing an additional 67,197 shares in the last quarter. Finally, Shaker Financial Services LLC bought a new stake in Adams Diversified Equity Fund in the third quarter valued at about $5,286,000. 28.41% of the stock is currently owned by institutional investors.

Adams Diversified Equity Fund Stock Up 0.9%

NYSE:ADX opened at $23.14 on Friday. The business’s 50 day moving average is $23.18 and its two-hundred day moving average is $22.71. Adams Diversified Equity Fund, Inc. has a 52 week low of $16.50 and a 52 week high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, January 26th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 8.1%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, January 26th.

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.