Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 49,600 shares, an increase of 100.8% from the January 31st total of 24,700 shares. Based on an average daily volume of 126,000 shares, the short-interest ratio is presently 0.4 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the company’s stock in a transaction 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 directly owns 3,418,349 shares of the company’s stock, valued at $48,267,087.88. This represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 108,386 shares of company stock valued at $1,511,590 over the last three months. Insiders own 10.06% of the company’s stock.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several hedge funds have recently bought and sold shares of HQL. Penserra Capital Management LLC purchased a new stake in Abrdn Life Sciences Investors in the 3rd quarter worth about $11,702,000. Absolute Investment Advisers LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter worth about $5,242,000. Raymond James Financial Inc. purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter worth about $3,129,000. LPL Financial LLC lifted its stake in Abrdn Life Sciences Investors by 82.0% in the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock worth $3,767,000 after acquiring an additional 129,313 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter worth about $1,594,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Trading Up 0.7 %

Shares of NYSE HQL traded up $0.10 during mid-day trading on Friday, hitting $13.45. 87,009 shares of the company traded hands, compared to its average volume of 131,759. The business has a 50 day moving average of $13.73 and a two-hundred day moving average of $14.42. Abrdn Life Sciences Investors has a 1 year low of $12.76 and a 1 year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 13.98%. The ex-dividend date is Friday, February 21st.

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.