Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 26,274 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 26,274 shares of the stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $13.46 per share, with a total value of $353,648.04. Following the completion of the transaction, the insider now owns 3,068,730 shares in the company, valued at approximately $41,305,105.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Tuesday, April 30th, Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $12.88 per share, with a total value of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. bought 81,738 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL traded up $0.20 during trading hours on Thursday, hitting $13.48. The stock had a trading volume of 65,820 shares, compared to its average volume of 109,463. The firm has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $13.13. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a $0.39 dividend. The ex-dividend date was Wednesday, February 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a dividend yield of 11.57%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in Abrdn Life Sciences Investors by 183.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 131,077 shares of the company’s stock valued at $1,764,000 after purchasing an additional 84,813 shares during the last quarter. Quantedge Capital Pte Ltd boosted its stake in Abrdn Life Sciences Investors by 60.8% during the 3rd quarter. Quantedge Capital Pte Ltd now owns 94,420 shares of the company’s stock valued at $1,177,000 after purchasing an additional 35,700 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $150,000. Allspring Global Investments Holdings LLC boosted its stake in Abrdn Life Sciences Investors by 30.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock valued at $6,113,000 after purchasing an additional 106,539 shares during the last quarter. Finally, Saba Capital Management L.P. boosted its stake in Abrdn Life Sciences Investors by 98.3% during the 3rd quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock valued at $3,387,000 after purchasing an additional 134,644 shares during the last quarter. Institutional investors and hedge funds 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.