Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Buys 1,303 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 1,303 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $13.50 per share, for a total transaction of $17,590.50. Following the acquisition, the insider now directly owns 3,251,883 shares in the company, valued at $43,900,420.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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, May 15th, Saba Capital Management, L.P. bought 34,755 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $14.19 per share, for a total transaction of $493,173.45.
• On Friday, May 10th, Saba Capital Management, L.P. bought 57,862 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.86 per share, for a total transaction of $801,967.32.
• On Wednesday, May 8th, Saba Capital Management, L.P. bought 10,986 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.70 per share, for a total transaction of $150,508.20.
• On Monday, May 6th, Saba Capital Management, L.P. bought 10,713 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.62 per share, for a total transaction of $145,911.06.
• On Thursday, May 2nd, Saba Capital Management, L.P. acquired 26,274 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.46 per share, with a total value of $353,648.04.
• On Tuesday, April 30th, Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. acquired 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. acquired 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. acquired 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. acquired 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 Trading Down 1.0 %

NYSE:HQL traded down $0.13 on Thursday, hitting $13.47. The stock had a trading volume of 45,114 shares, compared to its average volume of 104,753. Abrdn Life Sciences Investors has a 1 year low of $11.34 and a 1 year high of $14.37. The firm’s fifty day simple moving average is $13.43 and its two-hundred day simple moving average is $13.34.

Abrdn Life Sciences Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be paid a $0.48 dividend. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, May 22nd. This represents a $1.92 annualized dividend and a yield of 14.25%.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its stake in shares of Abrdn Life Sciences Investors by 4.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 18,414 shares of the company’s stock worth $251,000 after purchasing an additional 814 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Abrdn Life Sciences Investors by 2.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 36,937 shares of the company’s stock worth $497,000 after purchasing an additional 904 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Abrdn Life Sciences Investors by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 72,249 shares of the company’s stock worth $901,000 after purchasing an additional 1,220 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 1st quarter worth approximately $27,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Abrdn Life Sciences Investors by 60.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after purchasing an additional 3,811 shares during the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.