Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $33,312.00 in Stock

Posted by Charles Blunt on Jun 17th, 2024

Abrdn Life Sciences Investors (NYSE:HQL – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average price of $13.88 per share, with a total value of $33,312.00. Following the acquisition, the insider now owns 3,407,612 shares in the company, valued at $47,297,654.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 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 Monday, June 10th, Saba Capital Management, L.P. bought 9,704 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.71 per share, with a total value of $133,041.84.
On Thursday, June 6th, Saba Capital Management, L.P. purchased 9,598 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $13.80 per share, for a total transaction of $132,452.40.
On Tuesday, June 4th, Saba Capital Management, L.P. purchased 33,357 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.50 per share, for a total transaction of $450,319.50.
On Thursday, May 30th, Saba Capital Management, L.P. acquired 669 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.05 per share, with a total value of $8,730.45.
On Tuesday, May 28th, Saba Capital Management, L.P. bought 8,714 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.38 per share, for a total transaction of $116,593.32.
On Thursday, May 23rd, Saba Capital Management, L.P. purchased 1,303 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.50 per share, with a total value of $17,590.50.
On Wednesday, May 15th, Saba Capital Management, L.P. bought 34,755 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $14.19 per share, with a total value of $493,173.45.
On Friday, May 10th, Saba Capital Management, L.P. purchased 57,862 shares of Abrdn Life Sciences Investors stock. The shares were purchased 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. acquired 10,986 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.70 per share, with a total value of $150,508.20.
On Monday, May 6th, Saba Capital Management, L.P. bought 10,713 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.62 per share, for a total transaction of $145,911.06.

Abrdn Life Sciences Investors Stock Down 0.4 %

Shares of HQL opened at $13.82 on Monday. The company has a 50 day moving average price of $13.47 and a 200-day moving average price of $13.54. Abrdn Life Sciences Investors has a fifty-two week low of $11.34 and a fifty-two week high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 13.89%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in Abrdn Life Sciences Investors in the first quarter valued at about $27,000. Matisse Capital bought a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth approximately $135,000. Blue Bell Private Wealth Management LLC boosted its stake in Abrdn Life Sciences Investors by 60.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after acquiring an additional 3,811 shares in the last quarter. Eudaimonia Partners LLC purchased a new position in Abrdn Life Sciences Investors in the first quarter worth $142,000. Finally, International Assets Investment Management LLC increased its position in shares of Abrdn Life Sciences Investors by 3,424.5% during the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after purchasing an additional 10,753 shares in the last quarter. 32.21% of the stock is owned by institutional investors.

Abrdn Life Sciences Investors Company Profile

(Get Free Report)

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.