Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 15,143 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $14.27, for a total value of $216,090.61. Following the sale, the insider now directly owns 3,381,371 shares of the company’s stock, valued at $48,252,164.17. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 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 1.4 %

Abrdn Life Sciences Investors stock opened at $14.01 on Tuesday. Abrdn Life Sciences Investors has a 52 week low of $12.76 and a 52 week high of $15.90. The business’s 50-day moving average price is $13.77 and its 200 day moving average price is $14.59.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 14.28%.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC purchased a new position in Abrdn Life Sciences Investors during the third quarter valued at $11,702,000. Absolute Investment Advisers LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter valued at $5,242,000. Needham Investment Management LLC increased its position in Abrdn Life Sciences Investors by 3.2% during the third quarter. Needham Investment Management LLC now owns 352,719 shares of the company’s stock worth $5,319,000 after purchasing an additional 10,904 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Abrdn Life Sciences Investors by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 156,384 shares of the company’s stock worth $2,216,000 after buying an additional 10,137 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Abrdn Life Sciences Investors in the fourth quarter valued at $1,594,000. 32.21% of the stock is currently 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.