Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Buys $194,472.96 in Stock

Posted by Irma Garcia on Jun 28th, 2024

Abrdn Life Sciences Investors (NYSE:HQL – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 13,812 shares of Abrdn Life Sciences Investors stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of $14.08 per share, for a total transaction of $194,472.96. Following the completion of the purchase, the insider now directly owns 3,429,891 shares of the company’s stock, valued at approximately $48,292,865.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Wednesday, June 26th, Saba Capital Management, L.P. bought 100 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $14.07 per share, with a total value of $1,407.00.
On Wednesday, June 12th, Saba Capital Management, L.P. acquired 2,400 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $13.88 per share, with a total value of $33,312.00.
On Monday, June 10th, Saba Capital Management, L.P. acquired 9,704 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost 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 shares were purchased at an average price of $13.80 per share, with a total value 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 purchased 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 shares were purchased 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 stock was acquired 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 shares were acquired at an average cost of $13.50 per share, with a total value of $17,590.50.
On Wednesday, May 15th, Saba Capital Management, L.P. acquired 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 shares were acquired at an average price of $13.86 per share, with a total value of $801,967.32.

Abrdn Life Sciences Investors Trading Up 0.7 %

NYSE:HQL opened at $14.17 on Friday. The firm’s fifty day simple moving average is $13.63 and its 200 day simple moving average is $13.63. Abrdn Life Sciences Investors has a twelve month low of $11.34 and a twelve month 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. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.48 per share. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 13.55%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC bought a new stake in Abrdn Life Sciences Investors during the 1st quarter valued at approximately $1,929,000. Cetera Investment Advisers lifted its stake in shares of Abrdn Life Sciences Investors by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 146,247 shares of the company’s stock valued at $1,993,000 after purchasing an additional 10,979 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Abrdn Life Sciences Investors during the first quarter valued at approximately $143,000. Advisors Asset Management Inc. grew its stake in Abrdn Life Sciences Investors by 21.2% in the first quarter. Advisors Asset Management Inc. now owns 149,184 shares of the company’s stock worth $2,033,000 after purchasing an additional 26,107 shares during the period. Finally, Karpus Management Inc. bought a new position in Abrdn Life Sciences Investors in the first quarter worth $4,709,000. 32.21% of the stock is owned by institutional investors.

About Abrdn Life Sciences Investors

(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.