abrdn Healthcare Investors (NYSE:HQH) Hits New 52-Week High – Time to Buy?

abrdn Healthcare Investors (NYSE:HQH)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $24.67 and last traded at $24.5660, with a volume of 51189 shares trading hands. The stock had previously closed at $23.98.

abrdn Healthcare Investors Stock Performance

The stock has a 50-day simple moving average of $21.56 and a 200 day simple moving average of $20.00.

abrdn Healthcare Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On abrdn Healthcare Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in HQH. Wolverine Asset Management LLC acquired a new stake in shares of abrdn Healthcare Investors during the 4th quarter valued at about $2,780,000. Closed End Fund Advisors Inc. bought a new stake in shares of abrdn Healthcare Investors in the 4th quarter valued at approximately $750,000. NewEdge Advisors LLC increased its holdings in abrdn Healthcare Investors by 32.7% in the first quarter. NewEdge Advisors LLC now owns 151,738 shares of the financial services provider’s stock worth $2,699,000 after buying an additional 37,393 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in abrdn Healthcare Investors by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 130,117 shares of the financial services provider’s stock worth $2,464,000 after buying an additional 5,306 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in abrdn Healthcare Investors by 6.9% during the first quarter. Kestra Advisory Services LLC now owns 128,393 shares of the financial services provider’s stock valued at $2,284,000 after acquiring an additional 8,321 shares in the last quarter. 32.60% of the stock is owned by hedge funds and other institutional investors.

About abrdn Healthcare Investors

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.