Abrdn World Healthcare Fund (NYSE:THW) Shares Shorted: Short Interest Down 60.0% in October

Abrdn World Healthcare Fund (NYSE:THW) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 26,900 shares, a drop of 60.0% from the September 30th total of 67,230 shares. Based on an average daily trading volume, of 125,213 shares, the short-interest ratio is presently 0.2 days.

Abrdn World Healthcare Fund Price Performance

NYSE THW opened at $12.48 on Thursday. The stock has a fifty day moving average of $13.17 and a 200-day moving average of $12.84. Abrdn World Healthcare Fund has a 52 week low of $11.18 and a 52 week high of $14.50.

Abrdn World Healthcare Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 10.6%. This is a drop from Abrdn World Healthcare Fund’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Friday, October 23rd.

Hedge Funds Weigh In On Abrdn World Healthcare Fund

Several hedge funds have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its stake in shares of Abrdn World Healthcare Fund by 5.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 15,785 shares of the company’s stock valued at $206,000 after purchasing an additional 859 shares during the last quarter. Triumph Capital Management grew its position in shares of Abrdn World Healthcare Fund by 7.6% during the 3rd quarter. Triumph Capital Management now owns 33,944 shares of the company’s stock worth $443,000 after buying an additional 2,386 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Abrdn World Healthcare Fund by 52.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,526 shares of the company’s stock worth $202,000 after buying an additional 5,360 shares during the period. CoreCap Advisors LLC raised its stake in shares of Abrdn World Healthcare Fund by 6.6% during the third quarter. CoreCap Advisors LLC now owns 262,034 shares of the company’s stock worth $3,417,000 after buying an additional 16,314 shares during the last quarter. Finally, Allied Private Wealth LLC bought a new stake in shares of Abrdn World Healthcare Fund during the second quarter worth approximately $27,000.

Abrdn World Healthcare Fund Company Profile

abrdn World Healthcare Fund (NYSE: THW) is a closed-end investment fund focused on the global healthcare sector. The fund seeks to provide investors with total return through a combination of current income and long-term capital appreciation by investing in healthcare-related companies and securities.

The fund’s portfolio may include pharmaceutical, biotechnology, medical device, healthcare services, diagnostics, life sciences and other healthcare businesses. Its investments can span companies at different stages of development and may include issuers located in the United States and international markets, giving the fund exposure to healthcare trends across multiple geographies.

The fund was formerly known as Tekla World Healthcare Fund and adopted the abrdn World Healthcare Fund name following the transition of its investment management platform to abrdn.