Wolverine Asset Management LLC Sells 89,566 Shares of abrdn Healthcare Investors (NYSE:HQH)

Key Points

• Wolverine Asset Management LLC significantly reduced its position in abrdn Healthcare Investors by 65.5%, now holding approximately 47,265 shares worth $768,000.
• abrdn Healthcare Investors recently increased its quarterly dividend to $0.54, representing an annualized dividend of $2.16 and a yield of 13.8%.
• In contrast, other large investors such as Comerica Bank and US Bancorp DE have increased their holdings in abrdn Healthcare Investors, indicating mixed investor sentiment.

Wolverine Asset Management LLC trimmed its holdings in abrdn Healthcare Investors (NYSE:HQH - Free Report) by 65.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,265 shares of the financial services provider's stock after selling 89,566 shares during the period. Wolverine Asset Management LLC owned 0.09% of abrdn Healthcare Investors worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake 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 purchased a new stake in abrdn Healthcare Investors in the 1st quarter valued at about $189,000. Baird Financial Group Inc. increased its stake in shares of abrdn Healthcare Investors by 45.2% during the 4th 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. increased its stake in shares of abrdn Healthcare Investors by 10.4% during the 4th 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 boosted its holdings in abrdn Healthcare Investors by 33.0% in the 1st quarter. IFP Advisors Inc now owns 12,099 shares of the financial services provider's stock worth $196,000 after buying an additional 3,000 shares during the period. 32.60% of the stock is currently owned by institutional investors and hedge funds.

abrdn Healthcare Investors Stock Up 0.8%

NYSE:HQH traded up $0.13 during trading hours on Thursday, hitting $16.29. The stock had a trading volume of 162,798 shares, compared to its average volume of 221,434. The company has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $16.11. abrdn Healthcare Investors has a one year low of $13.77 and a one year high of $19.79.

abrdn Healthcare Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be given 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 12.5%.

abrdn Healthcare Investors 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.