Saba Capital Management, L.P. Sells 15,143 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 15,143 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $14.27, for a total value of $216,090.61. Following the completion of the sale, the insider now owns 3,381,371 shares of the company's stock, valued at approximately $48,252,164.17. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total value of $25,899.38.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Up 2.1 %

HQL traded up $0.30 on Wednesday, hitting $14.33. 209,639 shares of the company traded hands, compared to its average volume of 126,206. The company has a 50 day moving average of $13.77 and a 200-day moving average of $14.58. Abrdn Life Sciences Investors has a 12-month low of $12.76 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 13.96%. This is a boost from Abrdn Life Sciences Investors's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Abrdn Life Sciences Investors by 6.9% in the second quarter. Cetera Investment Advisers now owns 156,384 shares of the company's stock valued at $2,216,000 after buying an additional 10,137 shares during the period. Sanctuary Advisors LLC acquired a new stake in Abrdn Life Sciences Investors in the 2nd quarter valued at $154,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the third quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in shares of Abrdn Life Sciences Investors in the third quarter valued at about $204,000. Finally, Stephens Inc. AR lifted its position in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company's stock worth $192,000 after acquiring an additional 896 shares in the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

About Abrdn Life Sciences Investors

Abrdn Life Sciences 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 life sciences sector, including the biotechnology, pharmaceutical, diagnostics, managed healthcare, medical equipment, hospitals, healthcare information technology and services, devices and supplies industries, and in agriculture and environmental management industries.