abrdn Healthcare Investors (NYSE:HQH) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume surged 17% to 217,550 shares, while abrdn Healthcare Investors fell 2.5% to $19.135, below its 50-day and 200-day moving averages.
• The fund paid a quarterly dividend of $0.66 per share, equivalent to $2.64 annually and a 13.7% yield.
• Institutional investors increased their holdings, with hedge funds and other institutions owning 32.6% of the stock; the fund invests broadly across global healthcare companies and securities.

Shares of abrdn Healthcare Investors (NYSE:HQH - Get Free Report) saw unusually-strong trading volume on Monday. 217,550 shares changed hands during trading, an increase of 17% from the previous session's volume of 185,824 shares. The stock last traded at $19.1350 and had previously closed at $19.80.

abrdn Healthcare Investors Stock Down 2.5%

The firm's 50 day moving average is $22.38 and its 200 day moving average is $20.71.

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 issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 13.7%. The ex-dividend date was Monday, August 24th.

Hedge Funds Weigh In On abrdn Healthcare Investors

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in abrdn Healthcare Investors by 0.5% in the first quarter. Royal Bank of Canada now owns 519,667 shares of the financial services provider's stock valued at $9,245,000 after acquiring an additional 2,582 shares in the last quarter. Wedbush Securities Inc. lifted its position in 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 acquiring an additional 200,104 shares in the last quarter. Bank of America Corp DE raised its stake in abrdn Healthcare Investors by 19.7% during the first quarter. Bank of America Corp DE now owns 225,672 shares of the financial services provider's stock valued at $4,015,000 after buying an additional 37,177 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake 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 period. Finally, NewEdge Advisors LLC boosted its stake in abrdn Healthcare Investors by 8.4% during the second quarter. NewEdge Advisors LLC now owns 164,510 shares of the financial services provider's stock valued at $3,616,000 after buying an additional 12,772 shares in the last quarter. Hedge funds and other institutional investors own 32.60% of the company's stock.

About abrdn Healthcare Investors

abrdn Healthcare Investors NYSE: HQH is a publicly traded closed-end investment company focused on the healthcare sector. The fund seeks long-term capital appreciation by investing in companies involved in pharmaceuticals, biotechnology, medical devices, healthcare services and other areas of the global healthcare industry.

Its portfolio may include public and private companies and a range of securities, including common and preferred stocks, convertible securities and other healthcare-related investments.

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