Allspring Global Investments Holdings LLC lowered its holdings in Abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,051 shares of the company's stock after selling 114,251 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.61% of Abrdn Life Sciences Investors worth $2,179,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Absolute Investment Advisers LLC acquired a new stake in Abrdn Life Sciences Investors during the fourth quarter valued at $5,242,000. Kingswood Wealth Advisors LLC acquired a new stake in Abrdn Life Sciences Investors during the fourth quarter valued at $160,000. Janney Montgomery Scott LLC grew its position in Abrdn Life Sciences Investors by 7.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company's stock valued at $1,199,000 after buying an additional 6,200 shares during the period. Sanctuary Advisors LLC grew its position in Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company's stock valued at $183,000 after buying an additional 1,355 shares during the period. Finally, Needham Investment Management LLC grew its position in Abrdn Life Sciences Investors by 3.2% during the third quarter. Needham Investment Management LLC now owns 352,719 shares of the company's stock valued at $5,319,000 after buying an additional 10,904 shares during the period. Institutional investors and hedge funds own 32.21% of the company's stock.
Abrdn Life Sciences Investors Stock Performance
HQL stock opened at $13.84 on Friday. The firm's fifty day moving average is $13.74 and its 200 day moving average is $14.48. Abrdn Life Sciences Investors has a one year low of $12.76 and a one year high of $15.90.
Abrdn Life Sciences Investors Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 annualized dividend and a dividend yield of 13.58%.
Insider Activity
In other news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the transaction, the insider now directly owns 3,418,349 shares of the company's stock, valued at approximately $48,267,087.88. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 108,186 shares of company stock worth $1,508,866 over the last 90 days. 10.06% of the stock is currently owned by company insiders.
Abrdn Life Sciences Investors Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding HQL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abrdn Life Sciences Investors (NYSE:HQL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Abrdn Life Sciences Investors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abrdn Life Sciences Investors wasn't on the list.
While Abrdn Life Sciences Investors currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
