PMG Family Office LLC Makes New $1.79 Million Investment in Adams Diversified Equity Fund, Inc. $ADX

PMG Family Office LLC purchased a new position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the third quarter, Holdings Channel reports. The institutional investor purchased 80,229 shares of the closed-end fund’s stock, valued at approximately $1,789,000. Adams Diversified Equity Fund accounts for 2.0% of PMG Family Office LLC’s investment portfolio, making the stock its 13th largest position.

Other institutional investors also recently modified their holdings of the company. Westfuller Advisors LLC acquired a new stake in shares of Adams Diversified Equity Fund during the third quarter worth $28,000. CWM LLC lifted its holdings in Adams Diversified Equity Fund by 27.3% in the third quarter. CWM LLC now owns 3,609 shares of the closed-end fund’s stock valued at $80,000 after buying an additional 773 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Adams Diversified Equity Fund by 817.7% in the third quarter. CIBC Private Wealth Group LLC now owns 8,957 shares of the closed-end fund’s stock valued at $200,000 after buying an additional 7,981 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Adams Diversified Equity Fund during the third quarter valued at $204,000. Finally, Heritage Wealth Management Inc. bought a new stake in Adams Diversified Equity Fund during the second quarter valued at $210,000. 28.41% of the stock is owned by institutional investors.

Adams Diversified Equity Fund Trading Down 0.9%

Shares of Adams Diversified Equity Fund stock opened at $22.54 on Thursday. The business has a 50-day moving average price of $23.12 and a two-hundred day moving average price of $22.86. Adams Diversified Equity Fund, Inc. has a 1-year low of $16.50 and a 1-year high of $23.85.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, January 26th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Monday, January 26th. This is a positive change from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46.

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.