abrdn Life Sciences Investors $HQL Shares Purchased by Shaker Financial Services LLC

Shaker Financial Services LLC boosted its position in abrdn Life Sciences Investors (NYSE:HQL) by 32.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,062 shares of the company’s stock after purchasing an additional 7,632 shares during the period. Shaker Financial Services LLC owned approximately 0.11% of abrdn Life Sciences Investors worth $398,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in abrdn Life Sciences Investors in the first quarter worth approximately $134,000. Wedbush Securities Inc. acquired a new stake in abrdn Life Sciences Investors in the first quarter worth approximately $149,000. Stratos Wealth Partners LTD. lifted its position in abrdn Life Sciences Investors by 7.4% in the first quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company’s stock worth $180,000 after purchasing an additional 971 shares during the period. Stephens Inc. AR lifted its position in abrdn Life Sciences Investors by 56.1% in the first quarter. Stephens Inc. AR now owns 19,336 shares of the company’s stock worth $245,000 after purchasing an additional 6,947 shares during the period. Finally, Samalin Investment Counsel LLC acquired a new stake in abrdn Life Sciences Investors in the first quarter worth approximately $259,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 41,623 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.14, for a total transaction of $588,549.22. Following the completion of the sale, the insider owned 2,837,633 shares in the company, valued at approximately $40,124,130.62. This represents a 1.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 179,906 shares of company stock worth $2,530,720. 10.06% of the stock is currently owned by corporate insiders.

abrdn Life Sciences Investors Trading Down 3.4%

Shares of NYSE:HQL opened at $17.14 on Tuesday. abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $17.80. The stock has a fifty day moving average of $15.32 and a 200-day moving average of $13.73.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Friday, August 22nd.

abrdn Life Sciences Investors 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.