Waterfront Wealth Inc. Increases Stock Holdings in Adams Diversified Equity Fund, Inc. (NYSE:ADX)

Waterfront Wealth Inc. boosted its position in Adams Diversified Equity Fund, Inc. (NYSE:ADX) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 399,216 shares of the closed-end fund’s stock after buying an additional 2,017 shares during the quarter. Adams Diversified Equity Fund comprises 2.1% of Waterfront Wealth Inc.’s holdings, making the stock its 5th biggest position. Waterfront Wealth Inc.’s holdings in Adams Diversified Equity Fund were worth $7,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Saba Capital Management L.P. increased its position in shares of Adams Diversified Equity Fund by 53.9% during the third quarter. Saba Capital Management L.P. now owns 6,768,620 shares of the closed-end fund’s stock valued at $112,630,000 after buying an additional 2,371,715 shares during the period. Lazard Asset Management LLC increased its position in shares of Adams Diversified Equity Fund by 11.9% during the third quarter. Lazard Asset Management LLC now owns 4,122,687 shares of the closed-end fund’s stock valued at $68,601,000 after buying an additional 437,920 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Adams Diversified Equity Fund by 22.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,700,212 shares of the closed-end fund’s stock valued at $30,111,000 after buying an additional 307,756 shares during the period. Atlas Wealth LLC increased its position in shares of Adams Diversified Equity Fund by 0.9% during the third quarter. Atlas Wealth LLC now owns 1,373,433 shares of the closed-end fund’s stock valued at $22,854,000 after buying an additional 12,312 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Adams Diversified Equity Fund by 1,879.7% during the fourth quarter. International Assets Investment Management LLC now owns 779,738 shares of the closed-end fund’s stock valued at $13,809,000 after buying an additional 740,352 shares during the period. 28.41% of the stock is currently owned by institutional investors.

Adams Diversified Equity Fund Trading Down 0.5 %

Shares of ADX traded down $0.10 during midday trading on Wednesday, hitting $18.74. 102,797 shares of the company traded hands, compared to its average volume of 176,375. The stock has a 50-day moving average of $19.11 and a 200-day moving average of $17.90. Adams Diversified Equity Fund, Inc. has a one year low of $15.30 and a one year high of $19.60.

Adams Diversified Equity Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 8th.

About Adams Diversified Equity Fund

Adams Diversified Equity Fund, Inc is a publicly owned investment manager. It primarily provides its services to investment companies. The firm is a large advisory firm The firm is actively engaged in businesses, including commodity pool operator or commodity trading advisor. The firm launches equity.