Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $217,603.49 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 16,573 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $13.13 per share, with a total value of $217,603.49. Following the transaction, the insider now directly owns 3,042,204 shares in the company, valued at approximately $39,944,138.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.46 per share, with a total value of $353,648.04.
• On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price 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 stock was 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. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 0.9 %

Abrdn Life Sciences Investors stock opened at $13.60 on Friday. The business has a 50 day moving average price of $13.41 and a two-hundred day moving average price of $13.14. Abrdn Life Sciences Investors has a 12 month low of $11.34 and a 12 month high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The company 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 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. This represents a $1.56 annualized dividend and a yield of 11.47%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Large investors have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC raised its holdings in shares of Abrdn Life Sciences Investors by 2.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 36,937 shares of the company’s stock worth $497,000 after buying an additional 904 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Abrdn Life Sciences Investors by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 72,249 shares of the company’s stock valued at $901,000 after purchasing an additional 1,220 shares in the last quarter. Shaker Financial Services LLC increased its holdings in Abrdn Life Sciences Investors by 2.1% during the 3rd quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock valued at $830,000 after purchasing an additional 1,342 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Abrdn Life Sciences Investors during the 1st quarter valued at $27,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Abrdn Life Sciences Investors by 60.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after purchasing an additional 3,811 shares in the last quarter. Institutional investors and hedge funds 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.