Royal Bank of Canada Has $21.46 Million Stake in Adams Diversified Equity Fund, Inc. $ADX

Royal Bank of Canada lifted its stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 980,325 shares of the closed-end fund’s stock after acquiring an additional 44,446 shares during the quarter. Royal Bank of Canada’s holdings in Adams Diversified Equity Fund were worth $21,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independent Financial Group LLC bought a new position in Adams Diversified Equity Fund in the 1st quarter valued at $3,107,000. Bensler LLC lifted its position in Adams Diversified Equity Fund by 6.8% during the 4th 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. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies bought a new stake in shares of Adams Diversified Equity Fund during the fourth quarter worth approximately $216,000. Joel Isaacson & Co. LLC lifted its stake in shares of Adams Diversified Equity Fund by 25.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 33,489 shares of the closed-end fund’s stock valued at $781,000 after purchasing an additional 6,811 shares during the period. Finally, Caldwell Trust Co bought a new position in Adams Diversified Equity Fund during the fourth quarter worth about $45,000. Institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Stock Down 0.8%

Shares of Adams Diversified Equity Fund stock opened at $25.85 on Thursday. The stock’s fifty day simple moving average is $25.47 and its 200 day simple moving average is $24.14. Adams Diversified Equity Fund, Inc. has a 12 month low of $20.91 and a 12 month high of $26.49.

Adams Diversified Equity Fund Increases Dividend

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

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.