Abrdn Healthcare Investors (NYSE:HQH) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Abrdn Healthcare Investors (NYSE:HQH) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.25 and traded as low as $16.54. Abrdn Healthcare Investors shares last traded at $16.74, with a volume of 209,411 shares trading hands.

Abrdn Healthcare Investors Stock Down 0.8 %

The business has a fifty day simple moving average of $17.19 and a two-hundred day simple moving average of $18.06.

Abrdn Healthcare Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 14.95%. The ex-dividend date was Thursday, November 21st. This is a positive change from Abrdn Healthcare Investors’s previous quarterly dividend of $0.59.

Hedge Funds Weigh In On Abrdn Healthcare Investors

A number of hedge funds have recently modified their holdings of HQH. TD Private Client Wealth LLC acquired a new position in Abrdn Healthcare Investors in the third quarter valued at about $66,000. Stifel Financial Corp acquired a new position in shares of Abrdn Healthcare Investors in the 3rd quarter worth approximately $188,000. Needham Investment Management LLC boosted its position in shares of Abrdn Healthcare Investors by 3.1% during the 3rd quarter. Needham Investment Management LLC now owns 255,078 shares of the financial services provider’s stock worth $4,750,000 after purchasing an additional 7,729 shares during the period. HighTower Advisors LLC increased its holdings in Abrdn Healthcare Investors by 13.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,509 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 3,220 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in Abrdn Healthcare Investors in the third quarter valued at approximately $261,000. 32.60% of the stock is currently owned by hedge funds and other institutional investors.

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.