Abrdn World Healthcare Fund (NYSE:THW) Shares Down 2.1% – Should You Sell?

Shares of Abrdn World Healthcare Fund (NYSE:THW) dropped 2.1% during mid-day trading on Tuesday . The company traded as low as $12.45 and last traded at $12.5550. Approximately 141,685 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 131,589 shares. The stock had previously closed at $12.82.

Abrdn World Healthcare Fund Trading Down 2.1%

The firm has a 50-day moving average of $12.42 and a 200 day moving average of $12.56.

Abrdn World Healthcare Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were paid a dividend of $0.1167 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) annualized dividend and a yield of 11.2%.

Hedge Funds Weigh In On Abrdn World Healthcare Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC increased its position in shares of Abrdn World Healthcare Fund by 112.9% during the third quarter. Cornerstone Advisors LLC now owns 665,422 shares of the company’s stock worth $8,384,000 after acquiring an additional 352,906 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Abrdn World Healthcare Fund during the 4th quarter valued at approximately $1,939,000. Janney Montgomery Scott LLC grew its stake in Abrdn World Healthcare Fund by 59.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 234,266 shares of the company’s stock valued at $2,994,000 after purchasing an additional 87,019 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Abrdn World Healthcare Fund by 404.6% during the 3rd quarter. NewEdge Advisors LLC now owns 73,560 shares of the company’s stock worth $927,000 after purchasing an additional 58,983 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Abrdn World Healthcare Fund by 245.1% in the third quarter. Wedbush Securities Inc. now owns 71,384 shares of the company’s stock worth $899,000 after buying an additional 50,700 shares during the last quarter.

About Abrdn World Healthcare Fund

Abrdn World Healthcare Fund (NYSE: THW) is a closed-end investment company that provides investors with diversified exposure to the global healthcare sector. Listed on the New York Stock Exchange, the fund seeks to deliver long-term capital appreciation by investing primarily in equity securities of companies engaged in pharmaceuticals, biotechnology, medical devices, healthcare services and related industries. Managed by the global healthcare equity team at Abrdn plc, the fund leverages the firm’s deep sector expertise and research capabilities to identify innovative businesses and established market leaders in both developed and emerging markets.

The fund’s portfolio spans a broad range of healthcare subsectors, including drug developers, medical equipment manufacturers, health insurers and providers of diagnostics and digital health solutions.