Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $26,043.36 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 2,022 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average price of $12.88 per share, for a total transaction of $26,043.36. Following the completion of the acquisition, the insider now owns 2,738,992 shares in the company, valued at approximately $35,278,216.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 1.2 %

HQL traded up $0.16 on Tuesday, hitting $13.15. The company had a trading volume of 110,364 shares, compared to its average volume of 111,501. Abrdn Life Sciences Investors has a 1 year low of $11.34 and a 1 year high of $14.37. The company’s fifty day moving average price is $13.55 and its 200 day moving average price is $13.10.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a $0.39 dividend. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a yield of 11.86%. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Trading of Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its stake in Abrdn Life Sciences Investors by 183.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 131,077 shares of the company’s stock worth $1,764,000 after purchasing an additional 84,813 shares during the period. Quantedge Capital Pte Ltd increased its stake in Abrdn Life Sciences Investors by 60.8% during the third quarter. Quantedge Capital Pte Ltd now owns 94,420 shares of the company’s stock worth $1,177,000 after purchasing an additional 35,700 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in Abrdn Life Sciences Investors during the fourth quarter worth about $150,000. Allspring Global Investments Holdings LLC increased its stake in Abrdn Life Sciences Investors by 30.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock worth $6,113,000 after purchasing an additional 106,539 shares during the period. Finally, Saba Capital Management L.P. increased its stake in Abrdn Life Sciences Investors by 98.3% during the third quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock worth $3,387,000 after purchasing an additional 134,644 shares during the period. 32.21% of the stock is currently 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.