Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 120,304 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average cost of $13.00 per share, with a total value of $1,563,952.00. Following the acquisition, the insider now directly owns 3,025,602 shares in the company, valued at approximately $39,332,826. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $12.88 per share, with a total value of $26,043.36.
• 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 cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Trading Up 1.0 %

Shares of HQL traded up $0.13 during trading hours on Monday, hitting $13.10. 60,924 shares of the stock were exchanged, compared to its average volume of 111,450. Abrdn Life Sciences Investors has a fifty-two week low of $11.34 and a fifty-two week high of $14.37. The business has a 50-day moving average of $13.47 and a 200-day moving average of $13.11.

Abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 11.91%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in Abrdn Life Sciences Investors in the first quarter worth $27,000. Matisse Capital bought a new position in shares of Abrdn Life Sciences Investors in the fourth quarter valued at $135,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of 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 buying an additional 3,811 shares in the last quarter. Eudaimonia Partners LLC bought a new position in shares of Abrdn Life Sciences Investors in the first quarter valued at $142,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Abrdn Life Sciences Investors by 3,424.5% in the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock valued at $149,000 after buying an additional 10,753 shares in the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.

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.