abrdn Healthcare Investors (NYSE:HQH) Stock Short Interest Falls 55.1%

Key Points

• Short interest in abrdn Healthcare Investors fell 55.1% to 28,923 shares as of October 15, representing just 0.1% of shares outstanding and a days-to-cover ratio of 0.1.
• Institutional investors increased their positions, with hedge funds and other institutions collectively owning 32.6% of the company’s stock.
• HQH shares dipped 0.1% to $21.39, while the fund maintained a quarterly dividend of $0.66 per share, equivalent to an annualized yield of 12.3%.

abrdn Healthcare Investors (NYSE:HQH - Get Free Report) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 28,923 shares, a decrease of 55.1% from the September 30th total of 64,415 shares. Based on an average daily volume of 240,387 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On abrdn Healthcare Investors

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of abrdn Healthcare Investors by 0.5% in the 1st quarter. Royal Bank of Canada now owns 519,667 shares of the financial services provider's stock worth $9,245,000 after purchasing an additional 2,582 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of abrdn Healthcare Investors by 592.4% during the 2nd quarter. Wedbush Securities Inc. now owns 233,882 shares of the financial services provider's stock worth $4,530,000 after purchasing an additional 200,104 shares in the last quarter. Bank of America Corp DE lifted its holdings in abrdn Healthcare Investors by 19.7% during the 1st quarter. Bank of America Corp DE now owns 225,672 shares of the financial services provider's stock valued at $4,015,000 after purchasing an additional 37,177 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in abrdn Healthcare Investors by 8.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 205,248 shares of the financial services provider's stock valued at $3,651,000 after purchasing an additional 15,350 shares during the last quarter. Finally, Samalin Investment Counsel LLC lifted its holdings in abrdn Healthcare Investors by 17.9% during the 3rd quarter. Samalin Investment Counsel LLC now owns 182,351 shares of the financial services provider's stock valued at $3,809,000 after purchasing an additional 27,735 shares during the last quarter. Hedge funds and other institutional investors own 32.60% of the company's stock.

abrdn Healthcare Investors Stock Down 0.1%

Shares of HQH stock traded down $0.03 during mid-day trading on Friday, hitting $21.39. 181,701 shares of the stock traded hands, compared to its average volume of 192,161. abrdn Healthcare Investors has a twelve month low of $17.14 and a twelve month high of $24.85. The company's 50-day simple moving average is $21.20 and its 200-day simple moving average is $20.30.

abrdn Healthcare Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.64 dividend on an annualized basis and a yield of 12.3%.

abrdn Healthcare Investors Company Profile

abrdn Healthcare Investors NYSE: HQH is a non-diversified, closed-end investment company focused on the global healthcare and life sciences industries. Rather than operating healthcare businesses directly, the fund invests in the securities of companies involved in areas such as pharmaceuticals, biotechnology, medical devices, healthcare services and related technologies.

The fund seeks long-term capital appreciation, with current income as a secondary objective. Its portfolio may include common and preferred stocks, convertible securities and other investments issued by healthcare companies at various stages of development.

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