Saba Capital Management L.P. lessened its stake in Abrdn Healthcare Investors (NYSE:HQH - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,971,659 shares of the financial services provider's stock after selling 900,303 shares during the period. Abrdn Healthcare Investors makes up approximately 0.7% of Saba Capital Management L.P.'s holdings, making the stock its 28th largest position. Saba Capital Management L.P. owned about 3.90% of Abrdn Healthcare Investors worth $31,645,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in Abrdn Healthcare Investors in the fourth quarter worth approximately $2,196,000. Baird Financial Group Inc. increased its stake in shares of Abrdn Healthcare Investors by 45.2% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Abrdn Healthcare Investors in the 4th quarter worth $15,049,000. Steward Partners Investment Advisory LLC raised its holdings in Abrdn Healthcare Investors by 20.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 22,358 shares of the financial services provider's stock worth $359,000 after purchasing an additional 3,737 shares during the period. Finally, Absolute Investment Advisers LLC purchased a new position in Abrdn Healthcare Investors during the fourth quarter valued at $1,786,000. 32.60% of the stock is currently owned by hedge funds and other institutional investors.
Abrdn Healthcare Investors Stock Performance
NYSE:HQH traded down $0.09 during mid-day trading on Thursday, hitting $15.41. 205,854 shares of the company traded hands, compared to its average volume of 189,846. The stock's fifty day moving average price is $15.69 and its 200-day moving average price is $16.74. Abrdn Healthcare Investors has a one year low of $13.77 and a one year high of $19.79.
Abrdn Healthcare Investors Increases Dividend
The business also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, May 22nd. This is an increase from Abrdn Healthcare Investors's previous dividend of $0.50. This represents a dividend yield of 13.62%.
About Abrdn Healthcare Investors
(
Free Report)
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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