Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $428,315.22 in Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $13.01, for a total transaction of $428,315.22. Following the transaction, the insider now directly owns 3,240,630 shares of the company's stock, valued at approximately $42,160,596.30. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total value of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.58, for a total transaction of $611,677.34.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were 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 shares were sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were 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 transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction 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 value of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

NYSE HQL traded down $0.73 on Friday, reaching $11.43. 178,636 shares of the company were exchanged, compared to its average volume of 99,575. Abrdn Life Sciences Investors has a fifty-two week low of $11.42 and a fifty-two week high of $15.90. The business's fifty day moving average price is $13.47 and its 200 day moving average price is $14.04.

Abrdn Life Sciences Investors Cuts Dividend

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

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of Abrdn Life Sciences Investors by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company's stock worth $395,000 after buying an additional 933 shares during the last quarter. Kapstone Financial Advisors LLC increased its stake in Abrdn Life Sciences Investors by 11.0% during the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company's stock worth $185,000 after acquiring an additional 1,300 shares during the last quarter. Sanctuary Advisors LLC raised its position in Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company's stock valued at $183,000 after purchasing an additional 1,355 shares during the period. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $28,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Abrdn Life Sciences Investors by 379.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock worth $64,000 after purchasing an additional 3,847 shares during the period. 32.21% of the stock is 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.