LPL Financial LLC Has $5.70 Million Stock Holdings in abrdn Healthcare Investors (NYSE:HQH)

Key Points

• LPL Financial LLC increased its stake in abrdn Healthcare Investors by 24.4% in the 1st quarter, bringing its total to 350,961 shares valued at $5.7 million.
• The company announced a quarterly dividend of $0.51 per share, translating to an annual yield of 12.9%, with the payment date set for September 30th.
• abrdn Healthcare Investors' stock is currently trading at $15.87, having a one-year range between $13.77 and $19.79.

LPL Financial LLC grew its holdings in abrdn Healthcare Investors (NYSE:HQH - Free Report) by 24.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,961 shares of the financial services provider's stock after acquiring an additional 68,941 shares during the quarter. LPL Financial LLC owned 0.65% of abrdn Healthcare Investors worth $5,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in abrdn Healthcare Investors in the fourth quarter worth $15,049,000. Penserra Capital Management LLC lifted its position in abrdn Healthcare Investors by 8.5% in the first quarter. Penserra Capital Management LLC now owns 1,008,526 shares of the financial services provider's stock worth $16,378,000 after purchasing an additional 78,771 shares during the period. WNY Asset Management LLC lifted its position in abrdn Healthcare Investors by 26.2% in the first quarter. WNY Asset Management LLC now owns 182,505 shares of the financial services provider's stock worth $2,964,000 after purchasing an additional 37,852 shares during the period. Baird Financial Group Inc. raised its stake in abrdn Healthcare Investors by 45.2% during the fourth quarter. Baird Financial Group Inc. now owns 97,843 shares of the financial services provider's stock worth $1,570,000 after acquiring an additional 30,451 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of abrdn Healthcare Investors during the fourth quarter valued at $477,000. 32.60% of the stock is owned by institutional investors.

abrdn Healthcare Investors Stock Up 1.2%

Shares of NYSE HQH traded up $0.19 during midday trading on Friday, reaching $16.45. 183,413 shares of the company traded hands, compared to its average volume of 212,344. The stock's 50-day simple moving average is $15.75 and its 200-day simple moving average is $16.11. abrdn Healthcare Investors has a 12 month low of $13.77 and a 12 month high of $19.79.

abrdn Healthcare Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be issued 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 12.4%.

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.