Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Grows By 26.3%

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 76,300 shares, an increase of 26.3% from the March 15th total of 60,400 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 135,500 shares, the days-to-cover ratio is currently 0.6 days.

Abrdn Life Sciences Investors Stock Performance

NYSE:HQL traded up $0.27 during midday trading on Thursday, reaching $12.59. The stock had a trading volume of 46,496 shares, compared to its average volume of 101,331. The firm has a fifty day simple moving average of $12.66 and a two-hundred day simple moving average of $13.65. Abrdn Life Sciences Investors has a 12-month low of $10.55 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 14.93%. The ex-dividend date was Friday, February 21st.

Insider Buying and Selling at Abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 15,143 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $14.27, for a total value of $216,090.61. Following the transaction, the insider now owns 3,381,371 shares of the company's stock, valued at approximately $48,252,164.17. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 280,622 shares of company stock worth $3,612,033. 10.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Absolute Investment Advisers LLC acquired a new position in Abrdn Life Sciences Investors during the 4th quarter worth approximately $5,242,000. Sanctuary Advisors LLC boosted its stake in shares of 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 buying an additional 1,355 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter valued at approximately $3,129,000. LPL Financial LLC grew its holdings in Abrdn Life Sciences Investors by 82.0% during the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company's stock worth $3,767,000 after acquiring an additional 129,313 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in Abrdn Life Sciences Investors in the fourth quarter worth $1,594,000. 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.