Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $79,705.73 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 6,889 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $11.57, for a total value of $79,705.73. Following the completion of the transaction, the insider now owns 3,124,472 shares of the company’s stock, valued at approximately $36,150,141.04. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 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 value 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 stock was sold at an average price of $13.62, for a total transaction 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 shares were 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 stock was sold at an average price of $14.27, for a total transaction of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Trading Down 3.1 %

Shares of NYSE HQL traded down $0.36 during midday trading on Monday, hitting $11.08. The stock had a trading volume of 121,434 shares, compared to its average volume of 132,545. The business’s 50 day moving average is $13.42 and its 200-day moving average is $14.00. Abrdn Life Sciences Investors has a 52 week low of $10.90 and a 52 week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 16.97%.

Institutional Trading of Abrdn Life Sciences Investors

Institutional investors and hedge funds have recently modified their holdings of the business. Absolute Investment Advisers LLC bought a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at $5,242,000. LPL Financial LLC lifted its stake in Abrdn Life Sciences Investors by 82.0% during the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock valued at $3,767,000 after acquiring an additional 129,313 shares during the period. Raymond James Financial Inc. bought a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $3,129,000. Ameriprise Financial Inc. boosted its holdings in shares of Abrdn Life Sciences Investors by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company’s stock valued at $1,999,000 after acquiring an additional 10,742 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter worth approximately $1,594,000. Institutional investors own 32.21% of the company’s stock.

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.