Abrdn Healthcare Investors (NYSE:HQH) Sees Significant Decline in Short Interest

Abrdn Healthcare Investors (NYSE:HQH) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 92,300 shares, a decline of 36.7% from the February 13th total of 145,800 shares. Based on an average daily volume of 238,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the company’s shares are sold short.

Abrdn Healthcare Investors Stock Performance

NYSE HQH remained flat at $16.55 during mid-day trading on Friday. 169,442 shares of the company traded hands, compared to its average volume of 214,611. Abrdn Healthcare Investors has a 52-week low of $15.76 and a 52-week high of $19.79. The company has a 50-day moving average price of $17.34 and a two-hundred day moving average price of $17.74.

Abrdn Healthcare Investors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 13.78%. The ex-dividend date of this dividend is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Healthcare Investors

Several hedge funds and other institutional investors have recently made changes to their positions in HQH. Raymond James Financial Inc. acquired a new position in shares of Abrdn Healthcare Investors during the fourth quarter worth about $15,049,000. Penserra Capital Management LLC acquired a new position in Abrdn Healthcare Investors during the 3rd quarter worth approximately $16,145,000. Ameriprise Financial Inc. boosted its stake in shares of Abrdn Healthcare Investors by 10.4% in the fourth quarter. Ameriprise Financial Inc. now owns 287,607 shares of the financial services provider’s stock valued at $4,616,000 after purchasing an additional 27,043 shares during the period. LPL Financial LLC boosted its position in Abrdn Healthcare Investors by 65.3% in the 4th quarter. LPL Financial LLC now owns 282,020 shares of the financial services provider’s stock valued at $4,526,000 after buying an additional 111,383 shares during the last quarter. Finally, Needham Investment Management LLC boosted its holdings in Abrdn Healthcare Investors by 3.1% in the third quarter. Needham Investment Management LLC now owns 255,078 shares of the financial services provider’s stock valued at $4,750,000 after purchasing an additional 7,729 shares during the last quarter. Institutional investors and hedge funds own 32.60% of the company’s stock.

Abrdn Healthcare Investors Company Profile

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.