STOCK TITAN

Adams Diversified Equity Fund, Inc - ADX STOCK NEWS

Welcome to our dedicated page for Adams Diversified Equity Fund news (Ticker: ADX), a resource for investors and traders seeking the latest updates and insights on Adams Diversified Equity Fund stock.

Adams Diversified Equity Fund, Inc. (NYSE: ADX) is a historically significant, internally-managed closed-end fund with a diversified equity portfolio. The Fund, part of Adams Funds established in 1929, aims for the preservation of capital, reasonable income from investments, and capital appreciation. ADX's portfolio spans across various sectors including Information Technology, Health Care, Financials, Consumer Discretionary, and more.

As of the latest update, ADX's top holdings included major companies such as Microsoft Corporation, Apple Inc., Amazon.com, Inc., and Alphabet Inc., reflecting its strong presence in the tech sector. The Fund's investment team utilizes a disciplined approach to identify opportunities while managing risk, leading to consistent outperformance over various market cycles. For instance, in 2023, ADX achieved a total return of 27.5% on its net asset value, surpassing benchmarks like the S&P 500.

ADX is committed to an annual minimum distribution rate of 8% of NAV, providing a reliable income stream for shareholders. This policy, upgraded from its previous 6% minimum, reflects the Fund's dedication to long-term value creation. Complementing this, ADX announced a tender offer for 10% of its outstanding shares at 98% of NAV to enhance liquidity for shareholders.

The Fund's leadership team, including CEO Jim Haynie, focuses on transparency, trust, and delivering competitive returns. With over 85 years of experience, Adams Funds continue to support investors in achieving their financial goals. For more information, visit adamsfunds.com.

Rhea-AI Summary

The Board of Directors of Adams Diversified Equity Fund (NYSE: ADX) declared a distribution of $0.05 per share from net investment income, payable on June 1, 2023, to shareholders of record by May 18, 2023. This marks the second payment in 2023 toward the Fund's commitment to a 6% minimum annual distribution rate. For the first quarter of 2023, the total return on the Fund's net asset value, with dividends reinvested, was 6.9%, slightly below the S&P 500's 7.5%. However, the 12-month return was -7.7%, matching the S&P 500, while the market price return was worse at -9.7%. The Fund's net assets decreased to approximately $2.24 billion from $2.53 billion a year prior, with shares outstanding increasing. The net asset value per share stands at $18.52, down from $21.49.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.19%
Tags
none
-
Rhea-AI Summary

Adams Funds, comprising Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO), announced the retirement of CEO Mark E. Stoeckle after a decade of leadership. He served as CEO since February 2013 and will remain on the Boards of Directors. Stoeckle previously enjoyed a 32-year career in financial services, including positions at BNP Paribas and Bear, Stearns & Co. His successor, James P. Haynie, has been appointed as the new CEO effective immediately. Chairman Kenneth J. Dale praised Stoeckle's contributions, particularly during challenging market conditions and the pandemic. Adams Funds, established in 1929, focuses on achieving a 6% annual distribution rate to provide reliable income to its investors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.19%
Tags
none
-
Rhea-AI Summary

Celularity Inc. has entered into an exclusive distribution agreement with AD Ports Logistics to distribute Halal-Certified regenerative medicines and wellness products across the Middle East, including UAE, Qatar, Bahrain, Oman, Kuwait, and Egypt. This partnership follows a prior agreement for Saudi Arabia and aims to enhance access to innovative healthcare solutions in the region. Celularity's commercial biomaterial products include various types derived from human placental tissue. The regenerative medicine market is expected to grow significantly, reaching $37.10 billion by 2030, highlighting the importance of this distribution deal for both companies.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.2%
Tags
none
Rhea-AI Summary

Adams Diversified Equity Fund (NYSE: ADX) has announced the election of D. Cotton Swindell as President, effective after the retirement of current CEO and President Mark Stoeckle in April 2023. Swindell, who has been with the Fund since 2002, previously served as Executive Vice President and has extensive experience in investment analysis, covering industrials and consumer discretionary sectors. His leadership is expected to continue under the guidance of incoming CEO James Haynie. Adams Funds has a longstanding tradition of supporting investors with a focus on consistent annual distributions of 6% or more.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.52%
Tags
none
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.1%
Tags
none
-
Rhea-AI Summary

Adams Diversified Equity Fund (NYSE: ADX) reported a total net asset value return of -17.3% for 2022, slightly outperforming the S&P 500 Index (-18.1%) and the Morningstar U.S. Large Blend Category (-18.2%). The fund's market price return was -19.8%. The fund distributed $1.07 per share in dividends and capital gains, resulting in a 6.3% annual distribution rate, above the minimum commitment of 6.0%. Net assets declined to $2.1 billion from $2.65 billion year-over-year, with shares outstanding increasing to 120.9 million. The annual report is set for release on February 15, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.1%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.6%
Tags
none
-
Rhea-AI Summary

BALTIMORE, Nov. 10, 2022—Adams Diversified Equity Fund (NYSE: ADX) announced a year-end distribution of $0.92 per share, totaling $1.07 for 2022. This represents a 6.3% annual distribution rate. The year-end distribution includes $0.06 per share from net investment income and $0.86 from long-term capital gains. This marks the 58th consecutive year of capital gains payouts and the 87th consecutive year of dividends. The payable date is December 21, 2022, with an ex-dividend date of November 18, 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.82%
Tags
none
-
Rhea-AI Summary

Adams Diversified Equity Fund (NYSE: ADX) reported total returns for the nine months ending September 30, 2022, with a net asset value decrease of -23.2%, compared to the S&P 500's -23.9% and the Morningstar U.S. Large Blend category's -24.0%. For the year, returns were -13.2% on net asset value and -14.8% on market price. As of September 30, 2022, the fund's net assets totaled $2.02 billion, down from $2.54 billion a year prior, with shares outstanding increasing to 117.87 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.43%
Tags
none
Rhea-AI Summary

Adams Funds announces Mark E. Stoeckle's retirement as CEO in April 2023 after ten years of leadership, navigating through volatile markets and the COVID-19 pandemic. James P. Haynie, currently Executive Vice President and a member of the investment committee, is appointed as his successor. Under Stoeckle, the Funds achieved consistent performance, rebranded, and celebrated their 90th anniversary in 2019. Haynie brings over 35 years of financial services experience and is expected to maintain continuity in leadership and performance for shareholders.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.49%
Tags
none

FAQ

What is the current stock price of Adams Diversified Equity Fund (ADX)?

The current stock price of Adams Diversified Equity Fund (ADX) is $20.42 as of November 22, 2024.

What is the market cap of Adams Diversified Equity Fund (ADX)?

The market cap of Adams Diversified Equity Fund (ADX) is approximately 2.3B.

What is Adams Diversified Equity Fund, Inc. (ADX)?

ADX is an internally-managed closed-end fund with a diversified portfolio aiming for capital preservation, reasonable income, and capital appreciation.

What sectors does ADX invest in?

ADX's portfolio spans various sectors including Information Technology, Health Care, Financials, Consumer Discretionary, and more.

What is the annual distribution rate of ADX?

ADX is committed to an annual minimum distribution rate of 8% of its net asset value (NAV).

How did ADX perform in 2023?

In 2023, ADX achieved a total return of 27.5% on its net asset value, outperforming benchmarks like the S&P 500.

Who manages ADX?

ADX is managed by an experienced team led by CEO Jim Haynie, utilizing a disciplined investment approach to identify opportunities and manage risks.

What is the tender offer announced by ADX?

ADX announced a tender offer for 10% of its outstanding shares at 98% of NAV, providing liquidity for shareholders.

How long has Adams Diversified Equity Fund been in operation?

Adams Diversified Equity Fund has been in operation since 1929, marking over 85 years of consistent performance and dividend payments.

Can I purchase shares of ADX through a broker?

Yes, shares of ADX can be purchased through a broker or the Fund's transfer agent.

What are the top holdings in ADX's portfolio?

As of the latest update, top holdings include Microsoft Corporation, Apple Inc., Amazon.com, Inc., and Alphabet Inc.

Where can I find more information about ADX?

For more information about ADX, visit the Fund's website at adamsfunds.com.

Adams Diversified Equity Fund, Inc

NYSE:ADX

ADX Rankings

ADX Stock Data

2.28B
112.69M
6.82%
22.93%
0.62%
Asset Management
Financial Services
Link
United States of America
Baltimore