Wolverine Asset Management LLC Makes New $2.78 Million Investment in abrdn Healthcare Investors $HQH

Key Points

• Wolverine Asset Management opened a new position in abrdn Healthcare Investors (NYSE:HQH), buying 146,779 shares worth about $2.78 million, equal to roughly 0.27% of the fund.
• abrdn Healthcare Investors raised its quarterly dividend from $0.57 to $0.63 (paid Mar 31), implying a $2.52 annualized payout and a yield of about 12.7%.
• Several other institutional investors (including Raymond James, Penserra, RBC and Ameriprise) have recently increased stakes, with total institutional ownership around 32.6%; HQH recently traded near $19.91 within a 52-week range of $15.09–$20.46.

Wolverine Asset Management LLC purchased a new position in abrdn Healthcare Investors (NYSE:HQH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 146,779 shares of the financial services provider's stock, valued at approximately $2,780,000. Wolverine Asset Management LLC owned 0.27% of abrdn Healthcare Investors at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. increased its stake in shares of abrdn Healthcare Investors by 9.2% during the second quarter. Raymond James Financial Inc. now owns 1,299,644 shares of the financial services provider's stock valued at $20,131,000 after buying an additional 110,011 shares during the period. Penserra Capital Management LLC increased its stake in shares of abrdn Healthcare Investors by 15.4% during the third quarter. Penserra Capital Management LLC now owns 1,198,855 shares of the financial services provider's stock valued at $22,130,000 after buying an additional 159,618 shares during the period. Royal Bank of Canada increased its stake in shares of abrdn Healthcare Investors by 22.0% during the first quarter. Royal Bank of Canada now owns 529,826 shares of the financial services provider's stock valued at $8,604,000 after buying an additional 95,441 shares during the period. Ameriprise Financial Inc. increased its stake in shares of abrdn Healthcare Investors by 18.7% during the third quarter. Ameriprise Financial Inc. now owns 411,938 shares of the financial services provider's stock valued at $7,616,000 after buying an additional 64,868 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of abrdn Healthcare Investors by 3.3% during the third quarter. Advisors Asset Management Inc. now owns 363,020 shares of the financial services provider's stock valued at $6,701,000 after buying an additional 11,661 shares during the period. 32.60% of the stock is owned by hedge funds and other institutional investors.

abrdn Healthcare Investors Price Performance

HQH opened at $19.91 on Tuesday. The stock's 50 day moving average price is $18.77 and its 200-day moving average price is $18.98. abrdn Healthcare Investors has a 52-week low of $15.09 and a 52-week high of $20.46.

abrdn Healthcare Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 20th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 20th. This is a positive change from abrdn Healthcare Investors's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 12.7%.

abrdn Healthcare Investors Company Profile

abrdn Healthcare Investors NYSE: HQH is a closed-end management investment company that seeks long-term capital appreciation and current income by investing primarily in equity securities of companies operating in the healthcare sector. The fund’s portfolio generally comprises a diversified mix of domestic and international healthcare issuers, spanning pharmaceuticals, biotechnology, medical devices, healthcare services, and related industries.

The fund employs a fundamental, research-driven approach to select investments, focusing on companies with strong balance sheets, innovative product pipelines and the potential for sustainable revenue growth.

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