Saba Capital Management, L.P. Sells 15,400 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,400 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $11.67, for a total value of $179,718.00. Following the completion of the sale, the insider now owns 3,078,916 shares in the company, valued at $35,930,949.72. The trade was a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, April 10th, Saba Capital Management, L.P. sold 30,156 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $11.14, for a total value of $335,937.84.
• On Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.57, for a total value of $79,705.73.
• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total transaction of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total transaction of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total value of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction of $216,090.61.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL stock traded down $0.10 during trading hours on Tuesday, reaching $11.72. The company had a trading volume of 56,324 shares, compared to its average volume of 101,436. The business has a fifty day moving average price of $12.95 and a 200-day moving average price of $13.78. Abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 16.04%. The ex-dividend date was Friday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of hedge funds have recently added to or reduced their stakes in HQL. Sanctuary Advisors LLC grew its holdings in shares of Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after acquiring an additional 1,355 shares during the period. Janney Montgomery Scott LLC boosted its position in Abrdn Life Sciences Investors by 7.3% in the fourth 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. Kingswood Wealth Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $160,000. Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $5,242,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $1,594,000. 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.