AlphaCore Capital LLC Invests $408,000 in abrdn Healthcare Investors (NYSE:HQH)

Key Points

• AlphaCore Capital LLC has made a new investment of approximately $408,000 in abrdn Healthcare Investors, acquiring 25,141 shares of the stock during the 1st quarter.
• abrdn Healthcare Investors has announced a quarterly dividend of $0.54 per share, increasing from the previous $0.50, resulting in an annualized dividend of $2.16 and a yield of 13.8%.
• Institutional investors now hold 32.60% of abrdn Healthcare Investors, with several firms including US Bancorp DE and LPL Financial LLC increasing their stakes significantly during the same quarter.

AlphaCore Capital LLC acquired a new stake in shares of abrdn Healthcare Investors (NYSE:HQH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,141 shares of the financial services provider's stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HQH. Cambridge Investment Research Advisors Inc. grew its holdings in abrdn Healthcare Investors by 18.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 83,775 shares of the financial services provider's stock worth $1,361,000 after acquiring an additional 13,147 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in abrdn Healthcare Investors in the 1st quarter worth $189,000. Baird Financial Group Inc. grew its stake in shares of abrdn Healthcare Investors by 45.2% in the fourth quarter. Baird Financial Group Inc. now owns 97,843 shares of the financial services provider's stock worth $1,570,000 after purchasing an additional 30,451 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of abrdn Healthcare Investors by 10.4% in the fourth quarter. Ameriprise Financial Inc. now owns 287,607 shares of the financial services provider's stock worth $4,616,000 after purchasing an additional 27,043 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of abrdn Healthcare Investors by 33.0% in the first quarter. IFP Advisors Inc now owns 12,099 shares of the financial services provider's stock worth $196,000 after purchasing an additional 3,000 shares during the last quarter. 32.60% of the stock is owned by institutional investors.

abrdn Healthcare Investors Stock Up 0.8%

Shares of NYSE HQH traded up $0.13 during trading hours on Thursday, hitting $16.29. The company's stock had a trading volume of 162,798 shares, compared to its average volume of 221,434. abrdn Healthcare Investors has a 12 month low of $13.77 and a 12 month high of $19.79. The business has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $16.11.

abrdn Healthcare Investors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.5%.

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.