Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 48,623 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.58, for a total value of $611,677.34. Following the completion of the transaction, the insider now owns 3,188,405 shares of the company's stock, valued at $40,110,134.90. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total transaction of $357,372.56.
- On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.01, for a total transaction of $428,315.22.
- On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total transaction of $2,724.00.
- On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00.
- 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 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 shares were sold at an average price of $14.12, for a total transaction of $164,836.88.
Abrdn Life Sciences Investors Stock Down 6.0 %
Shares of NYSE HQL traded down $0.73 during midday trading on Friday, reaching $11.43. The stock had a trading volume of 178,636 shares, compared to its average volume of 99,682. Abrdn Life Sciences Investors has a twelve month low of $11.41 and a twelve month high of $15.90. The company's 50 day moving average price is $13.42 and its 200 day moving average price is $14.02.
Abrdn Life Sciences Investors Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a dividend of $0.47 per share. The ex-dividend date was Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 16.45%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Absolute Investment Advisers LLC bought a new stake in Abrdn Life Sciences Investors in the fourth quarter worth approximately $5,242,000. Needham Investment Management LLC grew its position in shares of Abrdn Life Sciences Investors by 3.2% during the 3rd quarter. Needham Investment Management LLC now owns 352,719 shares of the company's stock worth $5,319,000 after buying an additional 10,904 shares during the period. LPL Financial LLC increased its stake in shares of Abrdn Life Sciences Investors by 82.0% in the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company's stock valued at $3,767,000 after acquiring an additional 129,313 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $3,129,000. Finally, Ameriprise Financial Inc. boosted its stake in Abrdn Life Sciences Investors by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company's stock worth $1,999,000 after acquiring an additional 10,742 shares in the last quarter. 32.21% of the stock is owned by institutional investors and hedge funds.
Abrdn Life Sciences Investors Company Profile
(
Get Free Report)
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.
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