Smith Asset Management Co. LLC Makes New $1.96 Million Investment in abrdn Healthcare Investors $HQH

Key Points

• Smith Asset Management Co. LLC has made a new investment of approximately $1.96 million in abrdn Healthcare Investors, acquiring 120,719 shares, which now represents 1.8% of its total holdings.
• Several other institutional investors have also increased their stakes in abrdn Healthcare Investors, indicating growing interest as institutional ownership stands at 32.60%.
• abrdn Healthcare Investors recently announced a quarterly dividend of $0.51, with an annual yield of 12.1%, scheduled for payment at the end of September.

Smith Asset Management Co. LLC acquired a new stake in shares of abrdn Healthcare Investors (NYSE:HQH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 120,719 shares of the financial services provider's stock, valued at approximately $1,961,000. abrdn Healthcare Investors comprises 1.8% of Smith Asset Management Co. LLC's holdings, making the stock its 23rd largest position. Smith Asset Management Co. LLC owned approximately 0.22% of abrdn Healthcare Investors as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Costello Asset Management INC acquired a new position in abrdn Healthcare Investors in the first quarter worth about $40,000. US Bancorp DE raised its position in abrdn Healthcare Investors by 192.8% in the 1st quarter. US Bancorp DE now owns 3,733 shares of the financial services provider's stock worth $61,000 after purchasing an additional 2,458 shares during the last quarter. Nexus Investment Management ULC bought a new position in abrdn Healthcare Investors in the 1st quarter worth approximately $64,000. CoreCap Advisors LLC raised its position in abrdn Healthcare Investors by 175.8% in the 4th quarter. CoreCap Advisors LLC now owns 7,262 shares of the financial services provider's stock worth $117,000 after purchasing an additional 4,629 shares during the last quarter. Finally, Comerica Bank grew its holdings in abrdn Healthcare Investors by 17.3% during the 4th quarter. Comerica Bank now owns 7,504 shares of the financial services provider's stock worth $120,000 after acquiring an additional 1,105 shares during the period. Institutional investors and hedge funds own 32.60% of the company's stock.

abrdn Healthcare Investors Stock Down 0.7%

HQH opened at $16.82 on Tuesday. abrdn Healthcare Investors has a 52 week low of $13.77 and a 52 week high of $19.24. The company has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $15.92.

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 $0.51 dividend. This represents a $2.04 annualized dividend 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.

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