Raymond James Financial Inc. Acquires 251,977 Shares of abrdn Healthcare Investors $HQH

Key Points

• Raymond James Financial Inc. increased its holdings in abrdn Healthcare Investors by 26.9%, now owning approximately 1.19 million shares worth $19.32 million.
• abrdn Healthcare Investors announced a quarterly dividend of $0.51 per share, with an annualized dividend yield of 12.5%.
• Shares of abrdn Healthcare Investors are currently trading between a 12-month low of $13.77 and a high of $19.24.

Raymond James Financial Inc. lifted its stake in abrdn Healthcare Investors (NYSE:HQH - Free Report) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,189,633 shares of the financial services provider's stock after purchasing an additional 251,977 shares during the period. Raymond James Financial Inc. owned about 2.21% of abrdn Healthcare Investors worth $19,320,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of abrdn Healthcare Investors by 18.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 83,775 shares of the financial services provider's stock worth $1,361,000 after purchasing an additional 13,147 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of abrdn Healthcare Investors in the first quarter worth about $189,000. Ameriprise Financial Inc. grew its holdings 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. Baird Financial Group Inc. grew its holdings 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. Finally, IFP Advisors Inc grew its holdings 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 currently owned by institutional investors.

abrdn Healthcare Investors Trading Up 0.5%

Shares of NYSE HQH traded up $0.08 during mid-day trading on Tuesday, reaching $16.62. The company had a trading volume of 187,023 shares, compared to its average volume of 206,152. The business's 50-day moving average is $15.99 and its 200-day moving average is $15.97. abrdn Healthcare Investors has a 52 week low of $13.77 and a 52 week high of $19.24.

abrdn Healthcare Investors Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be issued a $0.51 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.3%.

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.