Abrdn Healthcare Investors (NYSE:HQH) Stake Lessened by Wolverine Asset Management LLC

Wolverine Asset Management LLC lessened its stake in Abrdn Healthcare Investors (NYSE:HQH) by 31.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 244,351 shares of the financial services provider’s stock after selling 110,850 shares during the quarter. Wolverine Asset Management LLC’s holdings in Abrdn Healthcare Investors were worth $4,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cornerstone Advisors LLC increased its stake in Abrdn Healthcare Investors by 54.1% during the third quarter. Cornerstone Advisors LLC now owns 439,379 shares of the financial services provider’s stock valued at $6,832,000 after purchasing an additional 154,220 shares during the last quarter. RPO LLC lifted its holdings in Abrdn Healthcare Investors by 47.3% in the 3rd quarter. RPO LLC now owns 376,791 shares of the financial services provider’s stock valued at $5,859,000 after acquiring an additional 121,018 shares during the last quarter. AQR Arbitrage LLC lifted its stake in Abrdn Healthcare Investors by 125.7% during the third quarter. AQR Arbitrage LLC now owns 319,150 shares of the financial services provider’s stock valued at $4,963,000 after buying an additional 177,748 shares in the last quarter. Saba Capital Management L.P. lifted its stake in Abrdn Healthcare Investors by 131.3% during the third quarter. Saba Capital Management L.P. now owns 296,637 shares of the financial services provider’s stock valued at $4,613,000 after buying an additional 168,402 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Abrdn Healthcare Investors by 5.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 252,971 shares of the financial services provider’s stock valued at $4,192,000 after buying an additional 13,816 shares in the last quarter. Institutional investors own 32.60% of the company’s stock.

Abrdn Healthcare Investors Price Performance

HQH stock traded up $0.01 during mid-day trading on Wednesday, reaching $16.14. 105,435 shares of the stock traded hands, compared to its average volume of 166,156. Abrdn Healthcare Investors has a 52-week low of $14.31 and a 52-week high of $17.73. The stock’s fifty day moving average is $16.68 and its 200-day moving average is $16.24.

Abrdn Healthcare Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Abrdn Healthcare Investors’s previous quarterly dividend of $0.38. This represents a $1.92 dividend on an annualized basis and a yield of 11.90%.

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.