Covington Capital Management Reduces Position in Adams Diversified Equity Fund Inc (NYSE:ADX)

Covington Capital Management trimmed its stake in Adams Diversified Equity Fund Inc (NYSE:ADX) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,794 shares of the closed-end fund’s stock after selling 5,979 shares during the period. Covington Capital Management’s holdings in Adams Diversified Equity Fund were worth $580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADX. Ladenburg Thalmann Financial Services Inc. boosted its stake in Adams Diversified Equity Fund by 1.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,856 shares of the closed-end fund’s stock worth $1,085,000 after purchasing an additional 705 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Adams Diversified Equity Fund by 30.6% in the 4th quarter. Advisors Asset Management Inc. now owns 186,507 shares of the closed-end fund’s stock worth $2,941,000 after acquiring an additional 43,707 shares during the period. Bank of America Corp DE lifted its stake in shares of Adams Diversified Equity Fund by 11.0% in the 4th quarter. Bank of America Corp DE now owns 268,707 shares of the closed-end fund’s stock worth $4,238,000 after acquiring an additional 26,716 shares during the period. UBS Group AG lifted its stake in shares of Adams Diversified Equity Fund by 5.2% in the 4th quarter. UBS Group AG now owns 78,057 shares of the closed-end fund’s stock worth $1,231,000 after acquiring an additional 3,893 shares during the period. Finally, BEAM Asset Management LLC acquired a new stake in shares of Adams Diversified Equity Fund in the 4th quarter worth $255,000. 13.83% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Craig R. Smith bought 8,000 shares of Adams Diversified Equity Fund stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $12.75 per share, for a total transaction of $102,000.00. Following the purchase, the director now owns 23,667 shares of the company’s stock, valued at $301,754.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

ADX stock opened at $12.00 on Thursday. Adams Diversified Equity Fund Inc has a one year low of $10.16 and a one year high of $16.76. The company has a fifty day moving average of $14.58 and a 200-day moving average of $15.57.

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, February 13th.

About Adams Diversified Equity Fund

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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Institutional Ownership by Quarter for Adams Diversified Equity Fund (NYSE:ADX)

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