Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $25,899.38 in Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 1,846 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.03, for a total value of $25,899.38. Following the sale, the insider now owns 3,379,525 shares of the company's stock, valued at approximately $47,414,735.75. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.27, for a total value of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Shares of NYSE:HQL traded down $0.24 on Friday, reaching $14.03. 175,252 shares of the company's stock were exchanged, compared to its average volume of 121,445. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90. The company has a fifty day moving average of $13.77 and a 200-day moving average of $14.56.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 14.26%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Abrdn Life Sciences Investors's previous quarterly dividend of $0.49.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQL. Raymond James Financial Inc. acquired a new position in Abrdn Life Sciences Investors in the fourth quarter valued at about $3,129,000. Kapstone Financial Advisors LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 11.0% in the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company's stock valued at $185,000 after purchasing an additional 1,300 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Abrdn Life Sciences Investors by 379.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock valued at $64,000 after purchasing an additional 3,847 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth $28,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth $1,594,000. 32.21% of the stock is owned by institutional investors and hedge funds.

Abrdn Life Sciences Investors Company 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.