Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 29,102 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 29,102 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $12.28, for a total transaction of $357,372.56. Following the sale, the insider now directly owns 3,141,682 shares in the company, valued at approximately $38,579,854.96. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% 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 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 value of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was 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 shares were 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 transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was 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 value of $164,836.88.

Abrdn Life Sciences Investors Price Performance

Shares of HQL opened at $12.19 on Friday. The firm has a 50-day moving average price of $13.47 and a 200 day moving average price of $14.04. Abrdn Life Sciences Investors has a 12-month low of $12.12 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.42%. The ex-dividend date was Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several large investors have recently made changes to their positions in HQL. Sanctuary Advisors LLC raised its position in Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after purchasing an additional 1,355 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Abrdn Life Sciences Investors by 7.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock valued at $1,199,000 after buying an additional 6,200 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter valued at $160,000. Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $5,242,000. Finally, Wolverine Asset Management LLC acquired a new position in Abrdn Life Sciences Investors during the 4th quarter worth about $1,594,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.

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.