Saba Capital Management, L.P. Sells 29,102 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 29,102 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $12.28, for a total value of $357,372.56. Following the completion of the sale, the insider now owns 3,141,682 shares in the company, valued at $38,579,854.96. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total transaction of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total transaction of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.27, for a total value of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Trading Down 6.0 %

Shares of HQL stock traded down $0.73 during mid-day trading on Friday, reaching $11.43. 178,636 shares of the company's stock traded hands, compared to its average volume of 99,682. The firm has a 50 day moving average price of $13.42 and a two-hundred day moving average price of $14.02. Abrdn Life Sciences Investors has a 12 month low of $11.41 and a 12 month high of $15.90.

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Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 16.45%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Trading of Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BankPlus Trust Department purchased a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC raised its holdings in Abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock valued at $64,000 after acquiring an additional 3,847 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of Abrdn Life Sciences Investors in the fourth quarter valued at about $154,000. Kingswood Wealth Advisors LLC bought a new position in shares of Abrdn Life Sciences Investors in the fourth quarter worth about $160,000. Finally, Sanctuary Advisors LLC grew its position in shares of Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company's stock worth $183,000 after purchasing an additional 1,355 shares in the last quarter. 32.21% of the stock is owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Company Profile

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.