Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 32,922 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 32,922 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $13.01, for a total transaction of $428,315.22. Following the completion of the transaction, the insider now directly owns 3,240,630 shares in the company, valued at $42,160,596.30. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were 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 stock was sold at an average price of $14.03, for a total transaction 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 Price Performance

HQL stock opened at $12.67 on Tuesday. Abrdn Life Sciences Investors has a 52-week low of $12.37 and a 52-week high of $15.90. The business has a fifty day moving average of $13.57 and a two-hundred day moving average of $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 14.84%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HQL. Absolute Investment Advisers LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $5,242,000. Sanctuary Advisors LLC raised its position in Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after purchasing an additional 1,355 shares during the period. Wolverine Asset Management LLC acquired a new position in Abrdn Life Sciences Investors during the fourth quarter worth $1,594,000. Raymond James Financial Inc. purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth $3,129,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock worth $64,000 after buying an additional 3,847 shares during the period. Hedge funds and other institutional investors own 32.21% of the company’s stock.

About Abrdn Life Sciences Investors

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.