Abrdn Healthcare Investors (NYSE:HQH) Sets New 52-Week Low – What’s Next?

Abrdn Healthcare Investors (NYSE:HQH)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.77 and last traded at $14.20, with a volume of 433183 shares changing hands. The stock had previously closed at $14.86.

Abrdn Healthcare Investors Trading Up 5.2 %

The company has a 50-day moving average price of $16.81 and a two-hundred day moving average price of $17.33.

Abrdn Healthcare Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 15.33%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. purchased a new stake in Abrdn Healthcare Investors in the third quarter worth $261,000. HighTower Advisors LLC lifted its stake in Abrdn Healthcare Investors by 13.8% in the third quarter. HighTower Advisors LLC now owns 26,509 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 3,220 shares during the period. Stifel Financial Corp purchased a new stake in Abrdn Healthcare Investors in the third quarter worth $188,000. TD Private Client Wealth LLC purchased a new stake in Abrdn Healthcare Investors in the third quarter worth $66,000. Finally, FNY Investment Advisers LLC purchased a new stake in Abrdn Healthcare Investors in the fourth quarter worth $48,000. 32.60% of the stock is currently owned by 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.