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

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 1,846 shares of the stock in a transaction 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Trading Down 1.7 %

HQL stock opened at $14.03 on Friday. The firm has a 50 day moving average of $13.78 and a 200-day moving average of $14.57. Abrdn Life Sciences Investors has a 12-month low of $12.76 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

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

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently added to or reduced their stakes in the business. BankPlus Trust Department purchased a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter valued at $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter worth about $30,000. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 worth $64,000 after purchasing an additional 3,847 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the third quarter worth about $148,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors in the second quarter valued at approximately $154,000. 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.