Saba Capital Management, L.P. Sells 36,536 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 36,536 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00. Following the sale, the insider now owns 3,276,181 shares in the company, valued at $45,047,488.75. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL stock traded up $0.05 on Monday, reaching $14.01. 99,663 shares of the 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 business's 50 day moving average price is $13.74 and its 200 day moving average price is $14.50.

Abrdn Life Sciences Investors Cuts Dividend

The firm 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 13.42%. The ex-dividend date is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Hedge funds have recently added to or reduced their stakes in the stock. Absolute Investment Advisers LLC purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth about $5,242,000. Sanctuary Advisors LLC raised its holdings 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 worth $183,000 after purchasing an additional 1,355 shares in the last quarter. 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 acquired a new position in Abrdn Life Sciences Investors during the third quarter worth $204,000. Finally, Janney Montgomery Scott LLC raised its position in Abrdn Life Sciences Investors by 7.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company's stock worth $1,199,000 after acquiring an additional 6,200 shares in the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

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.