Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 9,144 Shares

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 9,144 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $11.78, for a total value of $107,716.32. Following the completion of the sale, the insider now directly owns 3,068,072 shares in the company, valued at approximately $36,141,888.16. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 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 Monday, April 14th, Saba Capital Management, L.P. sold 15,400 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.67, for a total transaction of $179,718.00.
• On Thursday, April 10th, Saba Capital Management, L.P. sold 30,156 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $11.14, for a total transaction of $335,937.84.
• On Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.57, for a total transaction of $79,705.73.
• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.28, for a total value of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.58, for a total value of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total value of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total value of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The shares were 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 transaction 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 transaction of $25,899.38.

Abrdn Life Sciences Investors Stock Down 0.9 %

NYSE HQL traded down $0.11 during trading on Friday, hitting $12.50. The stock had a trading volume of 116,149 shares, compared to its average volume of 101,559. Abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $15.90. The stock has a 50 day simple moving average of $12.66 and a 200 day simple moving average of $13.65.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.04%. The ex-dividend date of this dividend was Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently bought and sold shares of the business. BankPlus Trust Department bought a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter worth $28,000. Steward Partners Investment Advisory LLC lifted its holdings in Abrdn Life Sciences Investors by 379.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock valued at $64,000 after buying an additional 3,847 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Abrdn Life Sciences Investors in the 1st quarter valued at about $131,000. Cambridge Investment Research Advisors Inc. bought a new position in Abrdn Life Sciences Investors in the 1st quarter worth about $134,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth approximately $154,000. Hedge funds and other institutional investors own 32.21% of the company's stock.

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.