Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 42,987 Shares

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 42,987 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $13.95, for a total value of $599,668.65. Following the sale, the insider now directly owns 3,332,473 shares in the company, valued at $46,487,998.35. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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, 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 value of $502,370.00.
• 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 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 value of $164,836.88.

Abrdn Life Sciences Investors Price Performance

HQL stock traded up $0.05 during trading hours on Friday, reaching $14.01. 99,663 shares of the stock were exchanged, compared to its average volume of 121,445. The firm's 50-day moving average is $13.74 and its 200-day moving average is $14.50. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.42%. The ex-dividend date is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently added to or reduced their stakes in HQL. Penserra Capital Management LLC bought a new position in Abrdn Life Sciences Investors during the 3rd quarter worth about $11,702,000. Absolute Investment Advisers LLC bought a new position in Abrdn Life Sciences Investors during the 4th quarter worth about $5,242,000. Raymond James Financial Inc. bought a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $3,129,000. LPL Financial LLC grew its holdings in shares of Abrdn Life Sciences Investors by 82.0% in the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company's stock valued at $3,767,000 after acquiring an additional 129,313 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $1,594,000. Institutional investors own 32.21% of the company's stock.

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.