abrdn Healthcare Investors (NYSE:HQH) Share Price Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Shares moved above the 50-day moving average: abrdn Healthcare Investors traded as high as $22.10 and last changed hands at $21.746, compared with a 50-day average of $20.64 and a 200-day average of $19.66.
• Dividend yield remains high: The fund recently paid a quarterly dividend of $0.61 per share, equivalent to $2.44 annually and an 11.2% yield.
• Institutional ownership increased: Several major investors, including Morgan Stanley, Royal Bank of Canada and LPL Financial, raised their positions; hedge funds and other institutions collectively own 32.6% of the stock.

abrdn Healthcare Investors (NYSE:HQH - Get Free Report) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $20.64 and traded as high as $22.10. abrdn Healthcare Investors shares last traded at $21.7460, with a volume of 156,675 shares trading hands.

abrdn Healthcare Investors Stock Down 1.2%

The stock has a 50 day moving average of $20.64 and a two-hundred day moving average of $19.66.

abrdn Healthcare Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.44 dividend on an annualized basis and a yield of 11.2%.

Hedge Funds Weigh In On abrdn Healthcare Investors

A number of large investors have recently made changes to their positions in HQH. Morgan Stanley boosted its holdings in 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 in the last quarter. Raymond James Financial Inc. lifted its position in shares of 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 valued at $20,131,000 after acquiring an additional 110,011 shares during the period. Royal Bank of Canada boosted its stake in shares of abrdn Healthcare Investors by 22.0% during the 1st quarter. Royal Bank of Canada now owns 529,826 shares of the financial services provider's stock worth $8,604,000 after acquiring an additional 95,441 shares in the last quarter. LPL Financial LLC boosted its stake in shares of abrdn Healthcare Investors by 23.6% during the 4th quarter. LPL Financial LLC now owns 501,067 shares of the financial services provider's stock worth $9,490,000 after acquiring an additional 95,667 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of abrdn Healthcare Investors by 27.6% in 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 during the period. Hedge funds and other institutional investors own 32.60% of the company's stock.

abrdn Healthcare Investors Company Profile

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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