Saba Capital Management, L.P. Sells 11,674 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 11,674 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the completion of the sale, the insider now owns 3,418,349 shares of the company’s stock, valued at approximately $48,267,087.88. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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.

Abrdn Life Sciences Investors Stock Up 0.5 %

Shares of Abrdn Life Sciences Investors stock opened at $14.23 on Friday. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $14.60. Abrdn Life Sciences Investors has a 52 week low of $12.76 and a 52 week high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 14.05%. The ex-dividend date was Thursday, November 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently made changes to their positions in the stock. Stephens Inc. AR lifted its position in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock worth $192,000 after acquiring an additional 896 shares during the period. 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. Future Financial Wealth Managment LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at $30,000. Janney Montgomery Scott LLC grew its holdings in shares of Abrdn Life Sciences Investors by 7.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock worth $1,199,000 after purchasing an additional 6,200 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter worth about $148,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.