Kelman Lazarov Inc. lowered its stake in Adams Diversified Equity Fund Inc (NYSE:ADX) by 60.2% during the first quarter, HoldingsChannel.com reports. The fund owned 38,712 shares of the closed-end fund’s stock after selling 58,518 shares during the quarter. Kelman Lazarov Inc.’s holdings in Adams Diversified Equity Fund were worth $559,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. 1607 Capital Partners LLC increased its position in shares of Adams Diversified Equity Fund by 5.7% in the fourth quarter. 1607 Capital Partners LLC now owns 2,197,589 shares of the closed-end fund’s stock valued at $27,734,000 after buying an additional 119,262 shares in the last quarter. Raymond James & Associates boosted its stake in Adams Diversified Equity Fund by 3.9% in the 1st quarter. Raymond James & Associates now owns 1,494,590 shares of the closed-end fund’s stock worth $21,582,000 after buying an additional 55,918 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in Adams Diversified Equity Fund by 0.5% in the 1st quarter. Dubuque Bank & Trust Co. now owns 676,876 shares of the closed-end fund’s stock worth $9,774,000 after buying an additional 3,358 shares during the last quarter. Bank of America Corp DE boosted its stake in Adams Diversified Equity Fund by 3.3% in the 4th quarter. Bank of America Corp DE now owns 275,174 shares of the closed-end fund’s stock worth $3,473,000 after buying an additional 8,875 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Adams Diversified Equity Fund by 159.3% in the 4th quarter. Geode Capital Management LLC now owns 264,366 shares of the closed-end fund’s stock worth $3,336,000 after buying an additional 162,411 shares during the last quarter. 15.53% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ADX traded up $0.09 during mid-day trading on Wednesday, reaching $14.98. The company’s stock had a trading volume of 76,528 shares, compared to its average volume of 196,874. Adams Diversified Equity Fund Inc has a twelve month low of $11.84 and a twelve month high of $16.82.
In other Adams Diversified Equity Fund news, Director Craig R. Smith purchased 17,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were purchased at an average cost of $14.91 per share, with a total value of $253,470.00. Following the purchase, the director now owns 46,469 shares in the company, valued at $692,852.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.
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Adams Diversified Equity Fund Profile
Adams Diversified Equity Fund, Inc is a self-managed investment trust. The firm invests in the public equity markets of the United States. It invests in stocks of large-cap companies across diversified sectors to make its investments. The firm employs a fundamental and quantitative analysis with a bottom-up stock picking approach, while focusing on earnings growth prospects, financial strength, cash flow generation, valuation, capital allocation, return on capital, defendable market position, market competition, macroeconomic backdrop, profitability, mileposts and catalysts, and "point in cycle" identification to make its investments.
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