Adams Diversified Equity Fund, Inc. (NYSE:ADX) Sees Large Increase in Short Interest

Adams Diversified Equity Fund, Inc. (NYSE:ADX) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 881,993 shares, an increase of 27.4% from the February 26th total of 692,299 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 295,881 shares, the days-to-cover ratio is currently 3.0 days.

Adams Diversified Equity Fund Trading Up 3.9%

Adams Diversified Equity Fund stock traded up $0.81 during mid-day trading on Tuesday, hitting $21.85. 337,327 shares of the company’s stock were exchanged, compared to its average volume of 305,009. Adams Diversified Equity Fund has a 1-year low of $16.50 and a 1-year high of $23.85. The stock has a 50 day moving average of $22.88 and a two-hundred day moving average of $22.87.

Adams Diversified Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, January 26th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 8.6%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, January 26th.

Institutional Trading of Adams Diversified Equity Fund

A number of institutional investors and hedge funds have recently modified their holdings of ADX. Westfuller Advisors LLC acquired a new position in Adams Diversified Equity Fund in the 3rd quarter valued at $28,000. Caldwell Trust Co bought a new stake in Adams Diversified Equity Fund during the fourth quarter valued at about $45,000. Bayban bought a new stake in Adams Diversified Equity Fund during the fourth quarter valued at about $57,000. CWM LLC grew its position in shares of 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 purchasing an additional 773 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Adams Diversified Equity Fund by 119.4% in the fourth quarter. IFP Advisors Inc now owns 4,339 shares of the closed-end fund’s stock valued at $101,000 after purchasing an additional 2,361 shares during the last quarter. 28.41% of the stock is currently owned by institutional investors and hedge funds.

About Adams Diversified Equity Fund

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.