abrdn Healthcare Investors (NYSE:HQH) Hits New 1-Year High - Time to Buy?

Key Points

• abrdn Healthcare Investors (NYSE:HQH) has reached a new 52-week high of $19.45, indicating a strong performance in the stock market.
• The company recently announced a quarterly dividend of $0.51 per share, which translates to an annualized yield of 10.5%.
• Institutional investors hold 32.60% of the company's stock, with several hedge funds recently increasing their stakes in abrdn Healthcare Investors.

Shares of abrdn Healthcare Investors (NYSE:HQH - ) reached a new 52-week high on Thursday . The company traded as high as $19.45 and last traded at $19.37, with a volume of 69843 shares changing hands. The stock had previously closed at $19.06.

abrdn Healthcare Investors Trading Up 1.9%

The stock has a fifty day simple moving average of $17.10 and a two-hundred day simple moving average of $16.10.

abrdn Healthcare Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date of this dividend was Friday, August 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HQH. Newbridge Financial Services Group Inc. purchased a new position in shares of abrdn Healthcare Investors during the second quarter worth about $34,000. Costello Asset Management INC purchased a new position in shares of abrdn Healthcare Investors during the first quarter worth about $40,000. Geneos Wealth Management Inc. lifted its position in abrdn Healthcare Investors by 9,232.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,893 shares of the financial services provider's stock worth $45,000 after buying an additional 2,862 shares during the last quarter. Colonial Trust Advisors bought a new stake in abrdn Healthcare Investors in the 2nd quarter worth approximately $57,000. Finally, US Bancorp DE lifted its position in abrdn Healthcare Investors by 192.8% in the 1st quarter. US Bancorp DE now owns 3,733 shares of the financial services provider's stock worth $61,000 after buying an additional 2,458 shares during the last quarter. Hedge funds and other institutional investors own 32.60% of the company's stock.

About abrdn Healthcare Investors

Abrdn Healthcare Investors is a closed-ended equity mutual fund launched and managed by abrdn Inc The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating in the healthcare sector, including the biotechnology, medical devices, and pharmaceuticals industries.

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