abrdn Healthcare Investors (NYSE:HQH) Sets New 52-Week High – Here’s Why

abrdn Healthcare Investors (NYSE:HQH) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.20 and last traded at $21.8690, with a volume of 15595 shares changing hands. The stock had previously closed at $22.00.

abrdn Healthcare Investors Stock Up 0.4%

The company’s 50 day simple moving average is $20.09 and its 200 day simple moving average is $19.37.

abrdn Healthcare Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, May 21st were given a $0.61 dividend. The ex-dividend date was Thursday, May 21st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 11.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC bought a new stake in shares of abrdn Healthcare Investors in the second quarter worth about $219,000. CoreCap Advisors LLC grew its position in shares of abrdn Healthcare Investors by 33.5% in the 2nd quarter. CoreCap Advisors LLC now owns 11,489 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 2,883 shares during the period. NewEdge Advisors LLC increased its stake in abrdn Healthcare Investors by 32.7% during the 1st quarter. NewEdge Advisors LLC now owns 151,738 shares of the financial services provider’s stock worth $2,699,000 after purchasing an additional 37,393 shares in the last quarter. Concorde Asset Management LLC increased its stake in abrdn Healthcare Investors by 6.3% during the 1st quarter. Concorde Asset Management LLC now owns 11,487 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 676 shares in the last quarter. Finally, WNY Asset Management LLC acquired a new stake in abrdn Healthcare Investors during the 1st quarter worth approximately $253,000. 32.60% of the stock is currently owned by institutional investors.

abrdn Healthcare Investors Company Profile

abrdn Healthcare Investors (NYSE:HQH) is a closed-end management investment company that seeks long-term capital appreciation and current income by investing primarily in equity securities of companies operating in the healthcare sector. The fund’s portfolio generally comprises a diversified mix of domestic and international healthcare issuers, spanning pharmaceuticals, biotechnology, medical devices, healthcare services, and related industries.

The fund employs a fundamental, research-driven approach to select investments, focusing on companies with strong balance sheets, innovative product pipelines and the potential for sustainable revenue growth.