Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Rises By 212.4%

Abrdn Life Sciences Investors logo with Finance background

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 77,800 shares, a growth of 212.4% from the December 31st total of 24,900 shares. Based on an average daily trading volume, of 93,900 shares, the days-to-cover ratio is presently 0.8 days.

Abrdn Life Sciences Investors Price Performance

Shares of Abrdn Life Sciences Investors stock traded up $0.07 during trading on Friday, hitting $14.23. The stock had a trading volume of 80,187 shares, compared to its average volume of 103,600. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 month high of $15.90. The firm's fifty day simple moving average is $13.77 and its 200-day simple moving average is $14.60.

Abrdn Life Sciences Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 14.05%. This is an increase from Abrdn Life Sciences Investors's previous quarterly dividend of $0.49.

Insider Activity

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88. Following the completion of the transaction, the insider now directly owns 3,418,349 shares of the company's stock, valued at $48,267,087.88. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new position in Abrdn Life Sciences Investors in the 3rd quarter worth about $30,000. Sanctuary Advisors LLC increased 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 acquiring an additional 1,355 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the third quarter valued at approximately $11,702,000. International Assets Investment Management LLC bought a new position in Abrdn Life Sciences Investors in the third quarter worth approximately $204,000. Finally, Stephens Inc. AR increased its holdings in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company's stock worth $192,000 after purchasing an additional 896 shares during the period. Institutional investors own 32.21% of the company's stock.

About Abrdn Life Sciences Investors

(Get 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.

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