Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $26,043.36 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 2,022 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $12.88 per share, for a total transaction of $26,043.36. Following the completion of the transaction, the insider now directly owns 2,738,992 shares in the company, valued at $35,278,216.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Trading Down 1.1 %

Abrdn Life Sciences Investors stock opened at $12.98 on Friday. Abrdn Life Sciences Investors has a 52 week low of $11.34 and a 52 week high of $14.37. The firm’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $13.10.

Abrdn Life Sciences Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 12.02%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 2.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 36,937 shares of the company’s stock worth $497,000 after acquiring an additional 904 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of 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 worth $901,000 after acquiring an additional 1,220 shares during the period. Shaker Financial Services LLC lifted its holdings in shares of 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 worth $830,000 after acquiring an additional 1,342 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Abrdn Life Sciences Investors during the 1st quarter worth about $27,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of 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 worth $136,000 after acquiring an additional 3,811 shares during the period. 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.