Advisors Asset Management Inc. Buys 56,638 Shares of abrdn Healthcare Investors $HQH

Key Points

• Advisors Asset Management Inc. increased its stake in abrdn Healthcare Investors by 27.3% in Q1, owning 264,435 shares valued at $4.29 million.
• abrdn Healthcare Investors recently announced a quarterly dividend of $0.51 per share, representing a 12.1% yield annually.
• Institutional investors own 32.60% of abrdn Healthcare Investors, with several firms increasing their positions in the company during the first quarter.

Advisors Asset Management Inc. lifted its position in abrdn Healthcare Investors (NYSE:HQH - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 264,435 shares of the financial services provider's stock after acquiring an additional 56,638 shares during the period. Advisors Asset Management Inc. owned 0.49% of abrdn Healthcare Investors worth $4,294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in abrdn Healthcare Investors by 22.0% in the first quarter. Royal Bank of Canada now owns 529,826 shares of the financial services provider's stock worth $8,604,000 after purchasing an additional 95,441 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of abrdn Healthcare Investors by 14.4% during the 1st quarter. Baird Financial Group Inc. now owns 111,918 shares of the financial services provider's stock valued at $1,818,000 after buying an additional 14,075 shares in the last quarter. Samalin Investment Counsel LLC grew its position in shares of abrdn Healthcare Investors by 9.9% in the 1st quarter. Samalin Investment Counsel LLC now owns 80,048 shares of the financial services provider's stock worth $1,300,000 after buying an additional 7,204 shares during the period. Kestra Advisory Services LLC grew its position in shares of abrdn Healthcare Investors by 4.9% in the 1st quarter. Kestra Advisory Services LLC now owns 87,131 shares of the financial services provider's stock worth $1,415,000 after buying an additional 4,085 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of abrdn Healthcare Investors by 26.9% in the 1st quarter. Raymond James Financial Inc. now owns 1,189,633 shares of the financial services provider's stock worth $19,320,000 after acquiring an additional 251,977 shares in the last quarter. Hedge funds and other institutional investors own 32.60% of the company's stock.

abrdn Healthcare Investors Trading Up 1.1%

NYSE:HQH traded up $0.18 during mid-day trading on Thursday, hitting $16.84. 102,816 shares of the company's stock were exchanged, compared to its average volume of 188,766. abrdn Healthcare Investors has a one year low of $13.77 and a one year high of $19.24. The business has a fifty day moving average price of $16.16 and a 200 day moving average price of $15.93.

abrdn Healthcare Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend is Friday, August 22nd.

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.