Peak Asset Management LLC Takes Position in Adams Diversified Equity Fund, Inc. $ADX

Peak Asset Management LLC bought a new position in shares of Adams Diversified Equity Fund, Inc. (NYSE:ADX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 32,200 shares of the closed-end fund’s stock, valued at approximately $823,000.

Other large investors also recently made changes to their positions in the company. Independent Financial Group LLC purchased a new position in Adams Diversified Equity Fund in the 1st quarter worth approximately $3,107,000. Bensler LLC raised its stake in shares of Adams Diversified Equity Fund by 6.8% during the fourth quarter. Bensler LLC now owns 987,718 shares of the closed-end fund’s stock valued at $23,034,000 after purchasing an additional 62,665 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Adams Diversified Equity Fund during the second quarter worth $2,018,000. Royal Bank of Canada boosted its stake in shares of Adams Diversified Equity Fund by 4.7% in the first quarter. Royal Bank of Canada now owns 980,325 shares of the closed-end fund’s stock valued at $21,459,000 after purchasing an additional 44,446 shares during the period. Finally, Uniting Wealth Partners LLC purchased a new position in shares of Adams Diversified Equity Fund in the second quarter valued at $593,000. Institutional investors and hedge funds own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Down 0.5%

ADX opened at $25.74 on Tuesday. Adams Diversified Equity Fund, Inc. has a twelve month low of $20.91 and a twelve month high of $26.56. The company has a fifty day simple moving average of $25.73 and a 200 day simple moving average of $24.40.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, July 27th will be given a dividend of $0.50 per share. 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.8%.

Adams Diversified Equity Fund 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.