Abrdn World Healthcare Fund (NYSE:THW) Stock Short Interest Falls 60.0%

Abrdn World Healthcare Fund (NYSE:THW) was the target of a significant drop in short interest in 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 days-to-cover ratio is currently 0.2 days.

Abrdn World Healthcare Fund Stock Up 0.2%

Abrdn World Healthcare Fund stock traded up $0.02 during midday trading on Friday, reaching $12.88. The stock had a trading volume of 118,869 shares, compared to its average volume of 130,071. The firm’s fifty day simple moving average is $13.11 and its 200-day simple moving average is $12.84. Abrdn World Healthcare Fund has a 1-year low of $11.18 and a 1-year high of $14.50.

Abrdn World Healthcare Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.2%. This is a drop from Abrdn World Healthcare Fund’s previous monthly dividend of $0.12. The ex-dividend date is Friday, October 23rd.

Institutional Trading of Abrdn World Healthcare Fund

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in Abrdn World Healthcare Fund by 3.6% during the 1st quarter. Royal Bank of Canada now owns 462,836 shares of the company’s stock worth $5,401,000 after buying an additional 16,093 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Abrdn World Healthcare Fund by 6.6% in the 3rd quarter. CoreCap Advisors LLC now owns 262,034 shares of the company’s stock valued at $3,417,000 after acquiring an additional 16,314 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Abrdn World Healthcare Fund by 10.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 257,753 shares of the company’s stock valued at $3,008,000 after acquiring an additional 23,487 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Abrdn World Healthcare Fund by 7.1% in the 1st quarter. Cetera Investment Advisers now owns 85,998 shares of the company’s stock valued at $1,004,000 after acquiring an additional 5,678 shares in the last quarter. Finally, Empire Financial Management Company LLC increased its position in shares of Abrdn World Healthcare Fund by 3.7% in the first quarter. Empire Financial Management Company LLC now owns 63,694 shares of the company’s stock valued at $743,000 after acquiring an additional 2,265 shares during the last quarter.

About Abrdn World Healthcare Fund

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.