Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 11,674 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 11,674 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $14.12, for a total transaction of $164,836.88. Following the completion of the sale, the insider now owns 3,418,349 shares in the company, valued at $48,267,087.88. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abrdn Life Sciences Investors Stock Up 0.2 %

Shares of HQL stock traded up $0.03 during trading hours on Thursday, reaching $14.16. 52,215 shares of the stock traded hands, compared to its average volume of 111,503. Abrdn Life Sciences Investors has a 1-year low of $12.76 and a 1-year high of $15.90. The business has a fifty day moving average price of $13.75 and a 200 day moving average price of $14.62.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were given a dividend of $0.50 per share. The ex-dividend date was Thursday, November 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 14.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its holdings in shares of Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock worth $192,000 after buying an additional 896 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Abrdn Life Sciences Investors by 11.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after buying an additional 1,355 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at $30,000. Janney Montgomery Scott LLC grew its holdings in shares of 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 worth $1,199,000 after purchasing an additional 6,200 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 3rd quarter worth about $148,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.