BankPlus Trust Department Makes New $28,000 Investment in Abrdn Life Sciences Investors (NYSE:HQL)

BankPlus Trust Department bought a new stake in Abrdn Life Sciences Investors (NYSE:HQL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,134 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Abrdn Life Sciences Investors in the 3rd quarter worth about $148,000. Kapstone Financial Advisors LLC bought a new position in Abrdn Life Sciences Investors during the third quarter worth about $177,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors in the fourth quarter worth about $160,000. Stephens Inc. AR raised its position in shares of Abrdn Life Sciences Investors by 7.6% in the third quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after purchasing an additional 896 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after buying an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the completion of the transaction, the insider now directly owns 3,418,349 shares in the company, valued at approximately $48,267,087.88. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 108,186 shares of company stock worth $1,508,866. 10.06% of the stock is owned by corporate insiders.

Abrdn Life Sciences Investors Stock Down 0.8 %

HQL opened at $13.53 on Wednesday. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 month high of $15.90. The company has a 50 day moving average of $13.73 and a 200 day moving average of $14.45.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.89%. The ex-dividend date of this dividend is Friday, February 21st.

Abrdn Life Sciences Investors Company 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.