EP Wealth Advisors LLC Takes Position in Adams Diversified Equity Fund, Inc. $ADX

EP Wealth Advisors LLC bought a new stake in Adams Diversified Equity Fund, Inc. (NYSE:ADX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,321 shares of the closed-end fund’s stock, valued at approximately $570,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Adams Diversified Equity Fund during the 2nd quarter worth about $25,000. Trust Co. of Vermont purchased a new stake in Adams Diversified Equity Fund in the 2nd quarter worth approximately $31,000. Caldwell Trust Co purchased a new stake in Adams Diversified Equity Fund during the fourth quarter worth $45,000. Assetmark Inc. grew its position in shares of 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 acquiring an additional 1,604 shares during the period. Finally, Bayban acquired a new stake in Adams Diversified Equity Fund in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 28.41% of the company’s stock.

Adams Diversified Equity Fund Price Performance

ADX stock opened at $25.74 on Tuesday. Adams Diversified Equity Fund, Inc. has a 52 week low of $20.91 and a 52 week high of $26.56. The firm has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $24.40.

Adams Diversified Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, July 27th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 7.8%. This is an increase from Adams Diversified Equity Fund’s previous quarterly dividend of $0.48.

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.