Abrdn World Healthcare Fund (NYSE:THW) Trading Down 1.9% – Time to Sell?

Abrdn World Healthcare Fund (NYSE:THW) dropped 1.9% during trading on Thursday . The stock traded as low as $12.27 and last traded at $12.2750. Approximately 115,241 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 211,506 shares. The stock had previously closed at $12.51.

Abrdn World Healthcare Fund Stock Performance

The stock has a 50 day moving average of $12.73 and a 200-day moving average of $12.28.

Abrdn World Healthcare Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were given a $0.1167 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date was Friday, January 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cornerstone Advisors LLC raised its holdings in Abrdn World Healthcare Fund by 112.9% during the third quarter. Cornerstone Advisors LLC now owns 665,422 shares of the company’s stock valued at $8,384,000 after acquiring an additional 352,906 shares during the period. NewEdge Advisors LLC grew its position in shares of Abrdn World Healthcare Fund by 404.6% during the third quarter. NewEdge Advisors LLC now owns 73,560 shares of the company’s stock worth $927,000 after purchasing an additional 58,983 shares in the last quarter. Wedbush Securities Inc. raised its stake in Abrdn World Healthcare Fund by 245.1% during the 3rd quarter. Wedbush Securities Inc. now owns 71,384 shares of the company’s stock valued at $899,000 after purchasing an additional 50,700 shares during the period. Raymond James Financial Inc. raised its stake in Abrdn World Healthcare Fund by 28.9% during the 3rd quarter. Raymond James Financial Inc. now owns 193,392 shares of the company’s stock valued at $2,437,000 after purchasing an additional 43,376 shares during the period. Finally, TrueMark Investments LLC purchased a new position in Abrdn World Healthcare Fund in the 4th quarter worth approximately $524,000.

Abrdn World Healthcare Fund Company Profile

Abrdn World Healthcare Fund (NYSE: THW) is a closed-end investment company that provides investors with diversified exposure to the global healthcare sector. Listed on the New York Stock Exchange, the fund seeks to deliver long-term capital appreciation by investing primarily in equity securities of companies engaged in pharmaceuticals, biotechnology, medical devices, healthcare services and related industries. Managed by the global healthcare equity team at Abrdn plc, the fund leverages the firm’s deep sector expertise and research capabilities to identify innovative businesses and established market leaders in both developed and emerging markets.

The fund’s portfolio spans a broad range of healthcare subsectors, including drug developers, medical equipment manufacturers, health insurers and providers of diagnostics and digital health solutions.