Independent Financial Group LLC Acquires New Position in Adams Diversified Equity Fund, Inc. $ADX

Independent Financial Group LLC acquired a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 141,920 shares of the closed-end fund’s stock, valued at approximately $3,107,000. Independent Financial Group LLC owned 0.12% of Adams Diversified Equity Fund as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bensler LLC grew its stake in Adams Diversified Equity Fund by 6.8% in 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 in the last quarter. Stratos Wealth Partners LTD. increased its position in Adams Diversified Equity Fund by 42.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 13,839 shares of the closed-end fund’s stock worth $323,000 after purchasing an additional 4,116 shares during the last quarter. Savvy Advisors Inc. purchased a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $466,000. Brookstone Capital Management purchased a new stake in shares of Adams Diversified Equity Fund during the 4th quarter worth about $255,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Adams Diversified Equity Fund by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 400,716 shares of the closed-end fund’s stock valued at $9,345,000 after buying an additional 13,722 shares during the last quarter. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Price Performance

Shares of NYSE ADX opened at $25.97 on Friday. The business has a 50 day simple moving average of $25.26 and a 200 day simple moving average of $23.92. Adams Diversified Equity Fund, Inc. has a 52 week low of $20.91 and a 52 week high of $26.31.

Adams Diversified Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, July 27th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, July 27th.

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.