abrdn Healthcare Investors (NYSE:HQH) Reaches New 12-Month High - Time to Buy?

Key Points

• abrdn Healthcare Investors (NYSE:HQH) reached a new 12-month high price of $18.87 during trading, closing at $18.79 with a trading volume of 152,764 shares.
• The company recently declared a quarterly dividend of $0.51, representing an annualized yield of 10.9%.
• Institutional investors now hold 32.60% of abrdn Healthcare Investors' stock, with several firms significantly increasing their positions or buying new stakes in the company.

abrdn Healthcare Investors (NYSE:HQH - ) reached a new 52-week high during trading on Wednesday . The company traded as high as $18.87 and last traded at $18.79, with a volume of 152764 shares trading hands. The stock had previously closed at $18.57.

abrdn Healthcare Investors Price Performance

The business has a 50-day simple moving average of $16.73 and a 200 day simple moving average of $16.00.

abrdn Healthcare Investors Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date was Friday, August 22nd.

Institutional Investors Weigh In On abrdn Healthcare Investors

A number of institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of abrdn Healthcare Investors during the 2nd quarter valued at about $34,000. Costello Asset Management INC bought a new stake in shares of abrdn Healthcare Investors during the 1st quarter valued at about $40,000. Geneos Wealth Management Inc. boosted its position in shares of abrdn Healthcare Investors by 9,232.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,893 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 2,862 shares in the last quarter. Colonial Trust Advisors bought a new stake in shares of abrdn Healthcare Investors during the 2nd quarter valued at about $57,000. Finally, US Bancorp DE boosted its position in shares of abrdn Healthcare Investors by 192.8% during the 1st quarter. US Bancorp DE now owns 3,733 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 2,458 shares in the last quarter. Institutional investors own 32.60% of the company's stock.

abrdn Healthcare Investors Company Profile

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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