Abrdn World Healthcare Fund (NYSE:THW) Sees Large Drop in Short Interest

Posted by Anthony Bellafiore on Oct 29th, 2024

Abrdn World Healthcare Fund (NYSE:THW – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 102,600 shares, a drop of 19.7% from the September 30th total of 127,700 shares. Based on an average trading volume of 101,900 shares, the short-interest ratio is presently 1.0 days.

Abrdn World Healthcare Fund Price Performance

Shares of NYSE:THW traded down $0.04 during midday trading on Monday, hitting $12.57. 86,733 shares of the stock were exchanged, compared to its average volume of 109,478. Abrdn World Healthcare Fund has a 52-week low of $9.93 and a 52-week high of $13.48. The business’s fifty day simple moving average is $13.12 and its two-hundred day simple moving average is $12.99.

Abrdn World Healthcare Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 24th will be issued a dividend of $0.1167 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.40 annualized dividend and a dividend yield of 11.14%.

Hedge Funds Weigh In On Abrdn World Healthcare Fund

Hedge funds have recently bought and sold shares of the business. Adirondack Trust Co. acquired a new position in Abrdn World Healthcare Fund during the third quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new position in Abrdn World Healthcare Fund during the second quarter worth $72,000. Future Financial Wealth Managment LLC acquired a new position in Abrdn World Healthcare Fund during the third quarter worth $73,000. Kapstone Financial Advisors LLC acquired a new position in Abrdn World Healthcare Fund during the second quarter worth $138,000. Finally, Hartline Investment Corp acquired a new position in Abrdn World Healthcare Fund during the first quarter worth $164,000.

Abrdn World Healthcare Fund Company Profile

(Get Free Report)

Tekla World Healthcare Fund is a closed-ended balanced mutual fund launched and managed by Tekla Capital Management LLC. The fund invests in public equity and fixed income markets across the globe. It seeks to invest in stocks of companies operating in the healthcare sector. For its fixed income portion, the fund primarily invests in corporate debt securities.