Abrdn Life Sciences Investors (NYSE:HQL) Sees Large Growth in Short Interest

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 96,500 shares, a growth of 94.6% from the February 13th total of 49,600 shares. Based on an average daily volume of 135,800 shares, the short-interest ratio is currently 0.7 days. Approximately 0.4% of the company's stock are sold short.

Abrdn Life Sciences Investors Price Performance

Shares of HQL traded down $0.11 on Tuesday, hitting $13.07. 109,857 shares of the stock traded hands, compared to its average volume of 97,504. The business has a 50 day simple moving average of $13.65 and a 200 day simple moving average of $14.21. Abrdn Life Sciences Investors has a one year low of $12.69 and a one year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.38%. The ex-dividend date is Friday, February 21st.

Insider Buying and Selling at Abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 36,536 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $13.75, for a total transaction of $502,370.00. Following the completion of the sale, the insider now owns 3,276,181 shares of the company's stock, valued at $45,047,488.75. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 108,386 shares of company stock valued at $1,511,590. Corporate insiders own 10.06% of the company's stock.

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Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently made changes to their positions in HQL. Penserra Capital Management LLC bought a new stake in shares of Abrdn Life Sciences Investors during the third quarter valued at approximately $11,702,000. Absolute Investment Advisers LLC purchased a new stake in Abrdn Life Sciences Investors in the fourth quarter worth approximately $5,242,000. Raymond James Financial Inc. purchased a new stake in Abrdn Life Sciences Investors in the fourth quarter worth approximately $3,129,000. LPL Financial LLC boosted its holdings in Abrdn Life Sciences Investors by 82.0% in the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company's stock worth $3,767,000 after purchasing an additional 129,313 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Abrdn Life Sciences Investors in the fourth quarter worth approximately $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.