abrdn Healthcare Investors (NYSE:HQH) Sees Large Drop in Short Interest

Key Points

• Short interest in abrdn Healthcare Investors dropped by 25.4% in August, totaling 61,400 shares compared to 82,300 in July.
• The company has announced a quarterly dividend of $0.51, yielding 12.1%, with the ex-dividend date set for August 22nd.
• Institutional investors now own 32.60% of abrdn Healthcare Investors' stock, indicating significant interest from large investors in recent quarters.

abrdn Healthcare Investors (NYSE:HQH - Get Free Report) saw a large decline in short interest in August. As of August 15th, there was short interest totaling 61,400 shares, a decline of 25.4% from the July 31st total of 82,300 shares. Based on an average daily volume of 209,900 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 209,900 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On abrdn Healthcare Investors

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in shares of abrdn Healthcare Investors by 0.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 156,361 shares of the financial services provider's stock worth $2,422,000 after acquiring an additional 768 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of abrdn Healthcare Investors by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,732 shares of the financial services provider's stock worth $191,000 after acquiring an additional 788 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of abrdn Healthcare Investors by 2.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,130 shares of the financial services provider's stock worth $684,000 after acquiring an additional 897 shares in the last quarter. Comerica Bank boosted its stake in shares of abrdn Healthcare Investors by 17.3% during the 4th quarter. Comerica Bank now owns 7,504 shares of the financial services provider's stock worth $120,000 after acquiring an additional 1,105 shares in the last quarter. Finally, Sage Capital Advisors llc boosted its stake in shares of abrdn Healthcare Investors by 5.1% during the 1st quarter. Sage Capital Advisors llc now owns 23,165 shares of the financial services provider's stock worth $376,000 after acquiring an additional 1,124 shares in the last quarter. Hedge funds and other institutional investors own 32.60% of the company's stock.

abrdn Healthcare Investors Price Performance

HQH traded down $0.15 during trading on Friday, reaching $16.69. The company's stock had a trading volume of 103,418 shares, compared to its average volume of 185,767. abrdn Healthcare Investors has a 52-week low of $13.77 and a 52-week high of $19.24. The company's fifty day moving average price is $16.17 and its 200-day moving average price is $15.91.

abrdn Healthcare Investors Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.04 annualized dividend and a dividend yield of 12.2%.

About abrdn Healthcare Investors

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.