Raymond James Financial Inc. Purchases New Position in Abrdn Life Sciences Investors (NYSE:HQL)

Raymond James Financial Inc. purchased a new stake in Abrdn Life Sciences Investors (NYSE:HQL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 238,470 shares of the company's stock, valued at approximately $3,129,000. Raymond James Financial Inc. owned approximately 0.87% of Abrdn Life Sciences Investors as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Kapstone Financial Advisors LLC increased its stake in Abrdn Life Sciences Investors by 11.0% during the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company's stock worth $185,000 after acquiring an additional 1,300 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd 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. BankPlus Trust Department acquired a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC increased its position in shares of Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock worth $64,000 after purchasing an additional 3,847 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake 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 valued at $1,199,000 after purchasing an additional 6,200 shares in the last quarter. 32.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. sold 15,143 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $14.27, for a total transaction of $216,090.61. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 189,931 shares of company stock worth $2,551,582. Corporate insiders own 10.06% of the company's stock.

Abrdn Life Sciences Investors Trading Down 0.2 %

HQL traded down $0.03 on Wednesday, hitting $12.31. 217,200 shares of the stock were exchanged, compared to its average volume of 99,230. Abrdn Life Sciences Investors has a 12 month low of $12.17 and a 12 month high of $15.90. The business has a 50-day moving average of $13.51 and a two-hundred day moving average of $14.06.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.27%. The ex-dividend date of this dividend was Friday, February 21st.

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.