Northwestern Mutual Wealth Management Co. Increases Holdings in Adams Diversified Equity Fund, Inc. $ADX

Northwestern Mutual Wealth Management Co. lifted its holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 85.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,750 shares of the closed-end fund’s stock after acquiring an additional 22,032 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Adams Diversified Equity Fund were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADX. BlackRock Inc. purchased a new position in Adams Diversified Equity Fund in the 2nd quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in Adams Diversified Equity Fund in the 2nd quarter worth approximately $31,000. Assetmark Inc. grew its holdings in Adams Diversified Equity Fund by 367.9% during the 1st quarter. Assetmark Inc. now owns 2,040 shares of the closed-end fund’s stock valued at $45,000 after buying an additional 1,604 shares in the last quarter. Bayban purchased a new stake in Adams Diversified Equity Fund during the 4th quarter valued at approximately $57,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Adams Diversified Equity Fund during the first quarter valued at approximately $89,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Price Performance

ADX stock opened at $26.14 on Friday. Adams Diversified Equity Fund, Inc. has a one year low of $20.91 and a one year high of $26.56. The company’s fifty day moving average price is $25.90 and its 200-day moving average price is $24.57.

Adams Diversified Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, July 27th were issued a dividend of $0.50 per share. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 7.7%.

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.