Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 36,536 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 36,536 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total value of $502,370.00. Following the transaction, the insider now directly owns 3,276,181 shares in the company, valued at $45,047,488.75. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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, 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 stock was 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

Shares of NYSE HQL opened at $13.97 on Friday. The business’s 50 day moving average price is $13.74 and its two-hundred day moving average price is $14.53. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.46%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently added to or reduced their stakes in HQL. Absolute Investment Advisers LLC bought a new position in Abrdn Life Sciences Investors during the fourth quarter worth $5,242,000. Sanctuary Advisors LLC lifted its stake in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after buying an additional 1,355 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter worth about $11,702,000. International Assets Investment Management LLC acquired a new position in Abrdn Life Sciences Investors in the 3rd quarter valued at about $204,000. Finally, Janney Montgomery Scott LLC raised its holdings in Abrdn Life Sciences Investors by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,200 shares during the period. 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.