abrdn Healthcare Investors (NYSE:HQH) Reaches New 1-Year High – Here’s What Happened

abrdn Healthcare Investors (NYSE:HQH)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $20.51 and last traded at $20.4240, with a volume of 71573 shares traded. The stock had previously closed at $20.22.

abrdn Healthcare Investors Price Performance

The firm’s 50-day moving average is $19.70 and its 200 day moving average is $19.19.

abrdn Healthcare Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be paid a $0.61 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.44 annualized dividend and a dividend yield of 11.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HQH. NewEdge Advisors LLC raised its position in abrdn Healthcare Investors by 32.7% in the 1st quarter. NewEdge Advisors LLC now owns 151,738 shares of the financial services provider’s stock valued at $2,699,000 after buying an additional 37,393 shares during the last quarter. Concorde Asset Management LLC grew its stake in shares of 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 acquiring an additional 676 shares in the last quarter. WNY Asset Management LLC bought a new position in shares of abrdn Healthcare Investors during the 1st quarter worth approximately $253,000. Bank of America Corp DE raised its holdings in shares of abrdn Healthcare Investors by 19.7% in the first quarter. Bank of America Corp DE now owns 225,672 shares of the financial services provider’s stock valued at $4,015,000 after purchasing an additional 37,177 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its holdings in shares of abrdn Healthcare Investors by 6.5% in the first quarter. Ashton Thomas Securities LLC now owns 11,592 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 712 shares during the last quarter. 32.60% of the stock is currently owned by 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.