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

Shares of Abrdn Healthcare Investors (NYSE:HQH) hit a new 52-week low during trading on Wednesday . The company traded as low as $15.75 and last traded at $15.80, with a volume of 2909 shares traded. The stock had previously closed at $15.85.

Abrdn Healthcare Investors Stock Down 0.5 %

The firm’s 50-day simple moving average is $17.28 and its 200-day simple moving average is $17.54.

Abrdn Healthcare Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.28 annualized dividend and a dividend yield of 14.45%.

Hedge Funds Weigh In On Abrdn Healthcare Investors

Hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in shares of Abrdn Healthcare Investors during the 4th quarter worth approximately $29,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Abrdn Healthcare Investors during the 4th quarter worth $48,000. FNY Investment Advisers LLC acquired a new stake in Abrdn Healthcare Investors during the fourth quarter worth about $48,000. TD Private Client Wealth LLC acquired a new position in shares of Abrdn Healthcare Investors in the 3rd quarter valued at approximately $66,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Abrdn Healthcare Investors by 175.8% during the 4th quarter. CoreCap Advisors LLC now owns 7,262 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 4,629 shares during the period. Institutional investors and hedge funds own 32.60% of the company’s stock.

Abrdn Healthcare Investors Company Profile

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.