abrdn Healthcare Investors (NYSE:HQH) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

abrdn Healthcare Investors (NYSE:HQH) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.64 and traded as high as $22.10. abrdn Healthcare Investors shares last traded at $21.7460, with a volume of 156,675 shares trading hands.

abrdn Healthcare Investors Stock Performance

The company has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $19.66.

abrdn Healthcare Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, May 21st were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, May 21st.

Institutional Trading of abrdn Healthcare Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of abrdn Healthcare Investors by 11.5% during the fourth quarter. Morgan Stanley now owns 4,683,466 shares of the financial services provider’s stock worth $88,705,000 after acquiring an additional 481,548 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of abrdn Healthcare Investors by 9.2% in the 2nd quarter. Raymond James Financial Inc. now owns 1,299,644 shares of the financial services provider’s stock valued at $20,131,000 after purchasing an additional 110,011 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of abrdn Healthcare Investors by 22.0% in the 1st quarter. Royal Bank of Canada now owns 529,826 shares of the financial services provider’s stock valued at $8,604,000 after purchasing an additional 95,441 shares in the last quarter. LPL Financial LLC grew its holdings in shares of abrdn Healthcare Investors by 23.6% during the 4th quarter. LPL Financial LLC now owns 501,067 shares of the financial services provider’s stock valued at $9,490,000 after purchasing an additional 95,667 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of abrdn Healthcare Investors by 27.6% during the 4th quarter. Advisors Asset Management Inc. now owns 463,367 shares of the financial services provider’s stock valued at $8,776,000 after purchasing an additional 100,347 shares during the last quarter. Hedge funds and other institutional investors own 32.60% of the company’s stock.

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.