abrdn Healthcare Investors (NYSE:HQH) Sets New 12-Month High – Still a Buy?

by · The Cerbat Gem

abrdn Healthcare Investors (NYSE:HQH – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $22.20 and last traded at $21.8690, with a volume of 15595 shares. The stock had previously closed at $22.00.

abrdn Healthcare Investors Stock Performance

The firm’s fifty day simple moving average is $19.98 and its 200 day simple moving average is $19.32.

abrdn Healthcare Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.44 annualized dividend and a dividend yield of 11.1%.

Hedge Funds Weigh In On abrdn Healthcare Investors

A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of abrdn Healthcare Investors by 11.5% during the fourth quarter. Morgan Stanley now owns 4,683,466 shares of the financial services provider’s stock worth $88,705,000 after buying an additional 481,548 shares during the period. Wolverine Asset Management LLC bought a new stake in abrdn Healthcare Investors in the 4th quarter valued at approximately $2,780,000. Raymond James Financial Inc. boosted its position in abrdn Healthcare Investors by 9.2% during the 2nd quarter. Raymond James Financial Inc. now owns 1,299,644 shares of the financial services provider’s stock worth $20,131,000 after acquiring an additional 110,011 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of abrdn Healthcare Investors by 27.6% during the 4th quarter. Advisors Asset Management Inc. now owns 463,367 shares of the financial services provider’s stock worth $8,776,000 after acquiring an additional 100,347 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of abrdn Healthcare Investors by 23.6% in the fourth quarter. LPL Financial LLC now owns 501,067 shares of the financial services provider’s stock valued at $9,490,000 after purchasing an additional 95,667 shares during the last quarter. Institutional investors own 32.60% of the company’s stock.

About abrdn Healthcare Investors

(Get Free Report)

abrdn Healthcare Investors (NYSE:HQH) is a closed-end management investment company that seeks long-term capital appreciation and current income by investing primarily in equity securities of companies operating in the healthcare sector. The fund’s portfolio generally comprises a diversified mix of domestic and international healthcare issuers, spanning pharmaceuticals, biotechnology, medical devices, healthcare services, and related industries.

The fund employs a fundamental, research-driven approach to select investments, focusing on companies with strong balance sheets, innovative product pipelines and the potential for sustainable revenue growth.

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