Adams Diversified Equity Fund, Inc. (NYSE:ADX) Short Interest Update
by Mitch Edgeman · The Markets DailyAdams Diversified Equity Fund, Inc. (NYSE:ADX – Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 692,299 shares, a decrease of 15.8% from the February 12th total of 821,844 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 234,909 shares, the short-interest ratio is currently 2.9 days. Based on an average daily trading volume, of 234,909 shares, the short-interest ratio is currently 2.9 days. Currently, 0.6% of the shares of the company are short sold.
Adams Diversified Equity Fund Stock Up 0.9%
ADX stock traded up $0.21 during trading on Monday, reaching $22.65. 90,426 shares of the stock were exchanged, compared to its average volume of 289,019. Adams Diversified Equity Fund has a twelve month low of $16.50 and a twelve month high of $23.85. The stock has a 50 day simple moving average of $23.17 and a 200-day simple moving average of $22.85.
Adams Diversified Equity Fund Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, January 26th were given a dividend of $0.47 per share. This is a boost from Adams Diversified Equity Fund’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Monday, January 26th.
Institutional Investors Weigh In On Adams Diversified Equity Fund
A number of institutional investors have recently bought and sold shares of the business. Westfuller Advisors LLC acquired a new position in shares of Adams Diversified Equity Fund in the 3rd quarter valued at $28,000. Caldwell Trust Co acquired a new stake in shares of Adams Diversified Equity Fund during the 4th quarter valued at about $45,000. Bayban acquired a new stake in shares of Adams Diversified Equity Fund during the 4th quarter valued at about $57,000. CWM LLC increased its stake in 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 acquiring an additional 773 shares during the period. Finally, IFP Advisors Inc increased its stake in 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 acquiring an additional 2,361 shares during the period. Institutional investors and hedge funds own 28.41% of the company’s stock.
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.