Adams Diversified Equity Fund

The Adams Express Company (the Fund) is a diversified investment company. The Company is an internally-managed closed-end fund whose investment objectives are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation. In order to conduct the Company’s business, the Company, through its transfer agent, American Stock Transfer & Trust Company, collects and maintains certain non-public personal information about its stockholders of record with respect to their transactions in shares of its securities. The Company’s investments include common stocks and short-term investments.

Central Securities

General American Investors

We're a little more than halfway through the year now, so it's a great time to check the state of play on our favorite high-yield plays: 8%+ paying closed-end funds (CEFs).

How These 8.3% CEFs Soared Double Digits

Apple

Broadcom

ArrowMark Financial

Chevron

Enterprise Products Partners

Energy Transfer LP Unit

Eaton Vance Tax-Managed Diversified Equity Income Fund

India Fund Inc

Microsoft

Neuberger Berman MLP Income Fund, Inc.

ONEOK

Adams Natural Resources Fund Inc

LMP Capital and Income Fund

Columbia Seligman Premium Technology Growth Func Inc

Liberty All Star Equity Fund

Exxon Mobil

For income investors, closed-end funds remain an attractive investment class that covers various asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper draw-downs than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records that pay high distributions and offer “excess” discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.

5 Best CEFs This Month For Nearly 9% Yield (July 2024)

BALTIMORE, July 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.44 per share, payable August 30, 2024 in newly issued shares unless shareholders elect to receive cash, to shareholders of record August 5, 2024. This distribution represents the initial payment under the Fund's Managed Distribution Policy to pay at least 2% of average net asset value each quarter. You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's MDP.

Adams Diversified Equity Fund Declares Distribution and Announces First Half Performance

The Adams Diversified Equity Fund just increased its annual distribution yield to 8%, plus it trades at a large discount to NAV (attractive). It also just initiated a tender offer (at 98% of NAV) designed to increase shareholder value (and it's been working--and we expect the fund to continue to outperform through year-end). We review the fund (i.e. price discount, initiatives to enhance shareholder value, interest from activist investor Saba Capital and more), and then conclude with our strong opinion on investing.

ADX: Big 8% Yield, Big Discount To NAV (Tender Offer)

Aberdeen Standard Global Infr Inc Fd

Eagle Point Income Company Inc

Flaherty & Crumrine Total Return Fund Inc

Nuveen AMT-Free Municipal Value Fund

June was another month where we saw broader equities hitting new all-time highs. However, that participation was rather narrow as the mega-cap tech names led the way higher. This last month, I added to or initiated positions in five different closed-end fund names; I sold out of two positions this month.

5 Closed-End Fund Buys (And 2 Sells) In The Month Of June 2024

BALTIMORE, July 05, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announced today the commencement of the Fund's previously announced tender offer to acquire in exchange for cash up to 10%, or 12,405,174 shares, of its issued and outstanding Common Stock, at a price equal to 98% of net asset value per share as of the close of ordinary trading on the New York Stock Exchange (“NYSE”) on August 2, 2024, or, if the tender offer is extended, the day the offer expires (the “Tender Offer”).

Adams Diversified Equity Fund Announces Commencement of Tender Offer

Blackrock ESG Capital Allocation Trust

FS Credit Opportunities Corp

BlackRock Municipal Income Fund

Tortoise Energy Independence Fund, Inc.

Tortoise MLP Fund

Royce Global Value

Tortoise Essential Assets Income Term Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today commented on the outcome of the appeal brought in the United States Court of Appeals for the Second Circuit (the “Appellate Court”) by the BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Municipal Income Fund (NYSE: MUI), Royce Global Value Trust (NYSE: RGT), Tortoise Midstream Energy Fund (NYSE: NTG), Tortoise Energy Independence Fund (NYSE: NDP), Tortois.

U.S. Court of Appeals for the Second Circuit Reaffirms Ruling That Certain Closed-End Funds, Including Funds Advised by BlackRock, Violated the Investment Company Act of 1940

Adams Diversified Equity Fund has seen its discount narrow after announcing an increase in its managed distribution policy and tender offer. ADX's new distribution policy should offer investors a more smoothed-out distribution throughout the year each quarter. The fund's correlation with the S&P 500 Index presents an opportunity for alpha through the tender offer, but as always, there are risks to consider.

ADX: Opportunity Exists

Western Asset Investment Grade Income Fund

Cohen And Steers Total Return Realty Fund

Cohen & Steers Real Estate Opportunities and Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

The overall broader indexes were heading higher after April's rather brief and shallow pullback. There was a bit more volatility toward the end of the month, which will be interesting to see if that develops into anything more material. Every month I make some purchases to compound and grow my monthly cash flow over time.

4 Closed-End Fund Buys In The Month Of May 2024

Ares Capital

Global X Superdividend ETF

A Wealth of Common Sense's Ben Carlson posted an interesting article on his site in early June highlighting how America's piggy banks are full. Thanks to the pandemic, Americans are sitting on home equity of $31.79 trillion, up from $6 trillion in 2008, a compound annual growth rate of 11.03%.

3 Ways for Investors to Play America's Bulging Home Equity Piggy Banks

Calamos Strategic Total Return Fund

Mexico Fund

Closed-end funds are like initial public offerings in that, an initial share amount is sold to the public. With a few exceptions, they are then “closed” to new capital, which explains where they get their name.

The 3 Best Closed-End Funds to Buy in May at a Discount

Adams Diversified Equity Fund is a closed-end fund that invests in a diversified pool of equities of large-cap U.S. listed stocks. ADX uses near-zero leverage, which can be beneficial in a down market and high-interest environment. ADX's past performance is solid, especially in the last 15 years. In some ways, this is a proxy for the S&P 500 in terms of capital appreciation, with the benefit of 6% plus income.

ADX: 6-8% Income, Good Discount, And Solid Past Performance

8% Annual Rate Managed Distribution Policy and a Tender Offer for 10% of Outstanding Shares at 98% of NAV 8% Annual Rate Managed Distribution Policy and a Tender Offer for 10% of Outstanding Shares at 98% of NAV

Adams Diversified Equity Fund Announces Initiatives to Enhance Shareholder Value

BALTIMORE, Md., April 18, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund (NYSE: ADX) announced that William H. Reinhardt has been elected Vice President-Research, effective April 18, 2024.

William H. Reinhardt Elected Vice President – Research, Adams Diversified Equity Fund

BALTIMORE, April 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 per share from net investment income, payable May 31, 2024, to shareholders of record May 17, 2024. This distribution represents the second payment this year toward the Fund's annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.

Adams Diversified Equity Fund Declares Distribution and Announces First Quarter Performance

There's no sugarcoating it: As I write this, our favorite high-yielding income plays—closed-end funds (CEFs)—are lagging behind “regular” stocks.

Let's Play This ‘Weird' Pattern For Cheap 8%+ Dividends

Adams Diversified Equity Fund (ADX) has performed well, returning over 27% since October. ADX paid a $1.15/share year-end special distribution, exceeding expectations. The analogy to 1999/2000 appears to be playing out in real time, suggesting we are in the midst of a blow-off top in equities. Due to its investment process, the ADX fund is heavily concentrated in high momentum growth stocks that could see a large drawdown should the bubble burst.

ADX: Take Some Chips Off The Table

Alamos Gold

ASA Gold and Precious Metals Ltd

Barrick Gold

Orla Mining Ltd. 

ASA Gold and Precious Metals provides exposure to difficult-to-access gold miners at a discount.

ASA Gold and Precious Metals: A Golden Opportunity Lost Its Luster

BlackRock Science & Technology

Crescent Capital BDC Inc

Calamos Dynamic Convertible & Income Fund

Calamos Global Total Return Fund

Eaton Vance Enhanced Equity Income Fund II

Eaton Vance Tax Advantaged Global Dividend Opportunities Fund

Eaton Vance Tax-Advantaged Dividend Income Fund

Fidus Investment

Guggenheim Strategic Opportunities Fund

John Hancock Tax-Advantaged Dividend Income Fund

JPMorgan Equity Premium Income ETF

JPMorgan Nasdaq Equity Premium Income ETF

Barings Corporate Investors

Oxford Lane Capital

PIMCO Corporate & Income Strategy Fund

PIMCO Dynamic Income Fund

John Hancock Premium Dividend Fund

PIMCO Corporate & Income Opportunity Fund

Global X NASDAQ 100 Covered Call ETF

Royce Value Trust

Global X Russell 2000 Covered Call ETF

Special Opportunities Fund Inc

For those who invest for dividends, the goal is to look for securities that can guarantee sustainable dividends and distributions over time. Choices about how to deploy the income generated by those instruments are personal and depend on each investor's needs, financial means, and age.

My 9% Income Portfolio-In Search For Happiness

BALTIMORE, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund's investment returns for 2023.

Adams Diversified Equity Fund Announces 2023 Performance

BALTIMORE, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $0.05 per share, payable March 1, 2024, to shareholders of record February 9, 2024, consisting of $0.03 net investment income and $0.01 long-term capital gain, both realized in 2023, and $0.01 net investment income realized in 2024.

Adams Diversified Equity Fund Declares Distribution

Adams Diversified Equity Fund seeks long-term capital appreciation and dividend income by investing in large-cap US companies. ADX has a very long history and has outperformed the S&P 500 over the past 10 years. The fund charges a high management fee and has a fixed distribution policy, which creates a potential tax drag.

ADX: 4 Reasons To Be Cautious Despite Recent Outperformance

BALTIMORE, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) has determined that $17.02 per share is the issue price for the closed-end fund's year-end distribution to shareholders who have elected to receive all or a portion of the distribution in the form of stock. This price is the mean between the high and low sales prices of the Fund's stock on the New York Stock Exchange on December 6, 2023.

Adams Diversified Equity Fund Announces $17.02 Issue Price of Shares for Year-End Distribution Payable December 20, 2023

BALTIMORE, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) declared today a year-end distribution of $1.15 per share. The total distributions by the Fund for 2023 will be $1.30, including the distributions totaling $0.15 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 8.1%.

Adams Diversified Equity Fund Declares Year-End Distribution; Exceeds Its Annual 6% Minimum Distribution Rate Commitment

The Adams Diversified Equity Fund has a long operating history and uses a time-tested process to identify secular growth stocks. ADX has performed well, returning 12.7% YTD and keeping pace with the S&P 500. The fund should be announcing a sizeable year-end distribution in the coming weeks, with a minimum 6% payout rate.

News for Adams Diversified Equity Fund ETF (ADX)