Independent Advisor Alliance Invests $243,000 in Abrdn Healthcare Investors (NYSE:HQH)

Independent Advisor Alliance purchased a new position in shares of Abrdn Healthcare Investors (NYSE:HQH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,163 shares of the financial services provider's stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Abrdn Healthcare Investors during the 4th quarter worth about $15,049,000. Penserra Capital Management LLC bought a new stake in shares of Abrdn Healthcare Investors during the 3rd quarter worth about $16,145,000. Needham Investment Management LLC raised its position in shares of Abrdn Healthcare Investors by 3.1% during the 3rd quarter. Needham Investment Management LLC now owns 255,078 shares of the financial services provider's stock worth $4,750,000 after buying an additional 7,729 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Abrdn Healthcare Investors by 36.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 177,820 shares of the financial services provider's stock worth $3,311,000 after buying an additional 47,518 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Abrdn Healthcare Investors by 94.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 174,268 shares of the financial services provider's stock worth $2,797,000 after buying an additional 84,731 shares in the last quarter. 32.60% of the stock is currently owned by institutional investors.

Abrdn Healthcare Investors Stock Up 0.4 %

Shares of HQH stock traded up $0.07 during midday trading on Friday, reaching $16.70. 96,246 shares of the company were exchanged, compared to its average volume of 177,605. Abrdn Healthcare Investors has a 12 month low of $15.76 and a 12 month high of $19.79. The company's 50 day moving average price is $17.34 and its two-hundred day moving average price is $17.65.

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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 paid a $0.57 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.28 annualized dividend and a dividend yield of 13.66%.

Abrdn Healthcare Investors 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.