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

Key Points

• abrdn Healthcare Investors rose 3.5% to $24.5660 after reaching a new 52-week high of $24.67, well above its 50-day and 200-day moving averages.
• The fund declared a quarterly dividend of $0.66 per share, equivalent to $2.64 annually and a 10.6% yield; the payment is scheduled for September 30 to shareholders of record August 24.
• Institutional investors and hedge funds own 32.6% of the stock, with several firms recently initiating or increasing positions.

abrdn Healthcare Investors (NYSE:HQH - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.67 and last traded at $24.5660, with a volume of 51189 shares traded. The stock had previously closed at $23.98.

abrdn Healthcare Investors Trading Up 3.5%

The stock has a fifty day moving average price of $21.56 and a two-hundred day moving average price of $20.00.

abrdn Healthcare Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.64 annualized dividend and a yield of 10.6%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC bought a new stake in shares of abrdn Healthcare Investors during the 4th quarter worth about $2,780,000. Closed End Fund Advisors Inc. bought a new stake in shares of abrdn Healthcare Investors during the 4th quarter worth $750,000. NewEdge Advisors LLC increased its stake in abrdn Healthcare Investors by 32.7% in the 1st quarter. NewEdge Advisors LLC now owns 151,738 shares of the financial services provider's stock worth $2,699,000 after purchasing an additional 37,393 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of abrdn Healthcare Investors by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 130,117 shares of the financial services provider's stock worth $2,464,000 after acquiring an additional 5,306 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of abrdn Healthcare Investors by 6.9% in the 1st quarter. Kestra Advisory Services LLC now owns 128,393 shares of the financial services provider's stock valued at $2,284,000 after acquiring an additional 8,321 shares in the last quarter. Institutional investors and hedge funds own 32.60% of the company's stock.

About abrdn Healthcare Investors

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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