PNC Financial Services Group Inc. Cuts Position in Abrdn Healthcare Investors (NYSE:HQH)

PNC Financial Services Group Inc. trimmed its position in shares of Abrdn Healthcare Investors (NYSE:HQH) by 90.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,596 shares of the financial services provider’s stock after selling 14,602 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Abrdn Healthcare Investors were worth $26,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atomi Financial Group Inc. increased its position in shares of Abrdn Healthcare Investors by 7.2% during the fourth quarter. Atomi Financial Group Inc. now owns 24,920 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 1,680 shares during the period. Truvestments Capital LLC acquired a new position in Abrdn Healthcare Investors during the 3rd quarter worth $46,000. FNY Investment Advisers LLC purchased a new stake in Abrdn Healthcare Investors during the 4th quarter worth about $48,000. HighTower Advisors LLC increased its holdings in Abrdn Healthcare Investors by 13.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,509 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 3,220 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its stake in shares of Abrdn Healthcare Investors by 10.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 35,942 shares of the financial services provider’s stock valued at $577,000 after buying an additional 3,274 shares during the period. 32.60% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Healthcare Investors Trading Down 0.4 %

NYSE HQH opened at $16.52 on Friday. Abrdn Healthcare Investors has a 52 week low of $15.76 and a 52 week high of $19.79. The firm has a 50 day moving average of $17.33 and a two-hundred day moving average of $17.61.

Abrdn Healthcare Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 13.81%. The ex-dividend date is Friday, February 21st.

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.