Absolute Investment Advisers LLC Purchases Shares of 399,526 Abrdn Life Sciences Investors (NYSE:HQL)

Absolute Investment Advisers LLC acquired a new position in Abrdn Life Sciences Investors (NYSE:HQL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 399,526 shares of the company's stock, valued at approximately $5,242,000. Absolute Investment Advisers LLC owned approximately 1.46% of Abrdn Life Sciences Investors as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter worth $30,000. Ashton Thomas Securities LLC purchased a new position in Abrdn Life Sciences Investors in the third quarter worth about $148,000. Sanctuary Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 2nd quarter valued at about $154,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $160,000. Finally, Kapstone Financial Advisors LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter valued at about $177,000. Hedge funds and other institutional investors own 32.21% of the company's stock.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38. Following the transaction, the insider now directly owns 3,379,525 shares of the company's stock, valued at $47,414,735.75. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 28,663 shares of company stock valued at $406,827 in the last 90 days. Company insiders own 10.06% of the company's stock.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL traded down $0.10 on Thursday, reaching $14.26. The company's stock had a trading volume of 107,950 shares, compared to its average volume of 125,744. Abrdn Life Sciences Investors has a 12-month low of $12.76 and a 12-month high of $15.90. The stock's 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $14.58.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.50 per share. This is an increase from Abrdn Life Sciences Investors's previous quarterly dividend of $0.49. The ex-dividend date was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.03%.

Abrdn Life Sciences Investors Profile

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.