Abrdn World Healthcare Fund (NYSE:THW) Shares Break Below 200 Day Moving Average – Should You Sell?

Shares of Abrdn World Healthcare Fund (NYSE:THW) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $12.84 and traded as low as $12.74. Abrdn World Healthcare Fund shares last traded at $12.7750, with a volume of 135,208 shares trading hands.

Abrdn World Healthcare Fund Stock Performance

The company has a 50-day moving average of $13.08 and a 200 day moving average of $12.84.

Abrdn World Healthcare Fund Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 23rd were issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Friday, October 23rd. This is a negative change from Abrdn World Healthcare Fund’s previous monthly dividend of $0.12.

Hedge Funds Weigh In On Abrdn World Healthcare Fund

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in Abrdn World Healthcare Fund by 10.0% during the first 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 during the last quarter. CoreCap Advisors LLC raised its stake in shares of Abrdn World Healthcare Fund by 6.6% during the third 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 during the last quarter. Royal Bank of Canada lifted its holdings in Abrdn World Healthcare Fund by 3.6% in 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 during the period. Cetera Investment Advisers lifted its stake in Abrdn World Healthcare Fund by 7.1% in the first quarter. Cetera Investment Advisers now owns 85,998 shares of the company’s stock worth $1,004,000 after acquiring an additional 5,678 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Abrdn World Healthcare Fund by 52.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,526 shares of the company’s stock valued at $202,000 after purchasing an additional 5,360 shares in 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 industry. The fund seeks to provide current income and long-term capital appreciation by investing primarily in equity and debt securities issued by companies involved in healthcare.

Its portfolio may include pharmaceutical and biotechnology companies, medical device and equipment manufacturers, healthcare services providers, diagnostics businesses, and other firms supporting the healthcare sector.