Lazard Asset Management LLC Sells 22,319 Shares of Adams Diversified Equity Fund, Inc. $ADX

Lazard Asset Management LLC decreased its position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 0.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,567,556 shares of the closed-end fund’s stock after selling 22,319 shares during the period. Lazard Asset Management LLC’s holdings in Adams Diversified Equity Fund were worth $78,094,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADX. Waverly Advisors LLC raised its stake in Adams Diversified Equity Fund by 8.7% during the 1st quarter. Waverly Advisors LLC now owns 73,199 shares of the closed-end fund’s stock worth $1,602,000 after buying an additional 5,839 shares during the period. FCA Corp TX increased its holdings in shares of Adams Diversified Equity Fund by 5.0% in the first quarter. FCA Corp TX now owns 184,138 shares of the closed-end fund’s stock worth $4,031,000 after acquiring an additional 8,808 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Adams Diversified Equity Fund by 367.9% in the first quarter. Assetmark Inc. now owns 2,040 shares of the closed-end fund’s stock worth $45,000 after acquiring an additional 1,604 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of Adams Diversified Equity Fund in the first quarter worth about $3,107,000. Finally, D.A. Davidson & CO. raised its position in shares of Adams Diversified Equity Fund by 11.3% during the first quarter. D.A. Davidson & CO. now owns 145,800 shares of the closed-end fund’s stock worth $3,192,000 after purchasing an additional 14,768 shares during the period. Institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Trading Down 1.9%

NYSE:ADX opened at $25.38 on Tuesday. Adams Diversified Equity Fund, Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $26.49. The business’s 50-day simple moving average is $25.39 and its 200-day simple moving average is $24.03.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, July 27th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48.

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.