Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Drops By 37.4%

Abrdn Life Sciences Investors (NYSE:HQL) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 60,400 shares, a decrease of 37.4% from the February 28th total of 96,500 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 137,700 shares, the days-to-cover ratio is currently 0.4 days.

Insider Buying and Selling at Abrdn Life Sciences Investors

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the transaction, the insider now directly owns 3,418,349 shares in the company, valued at $48,267,087.88. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 108,386 shares of company stock worth $1,511,590 in the last three months. 10.06% of the stock is owned by corporate insiders.

Institutional Trading of Abrdn Life Sciences Investors

A number of large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Abrdn Life Sciences Investors by 3.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock worth $395,000 after acquiring an additional 933 shares during the last quarter. Kapstone Financial Advisors LLC raised its holdings in shares of Abrdn Life Sciences Investors by 11.0% in the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after purchasing an additional 1,300 shares in the last quarter. Sanctuary Advisors LLC lifted its position 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 worth $183,000 after purchasing an additional 1,355 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth $28,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after buying an additional 3,847 shares during the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Trading Down 0.7 %

HQL traded down $0.10 during trading hours on Friday, reaching $12.89. The company’s stock had a trading volume of 61,237 shares, compared to its average volume of 98,220. The business’s 50-day moving average is $13.58 and its 200-day moving average is $14.11. Abrdn Life Sciences Investors has a fifty-two week low of $12.69 and a fifty-two week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.59%. The ex-dividend date of this dividend is Friday, February 21st.

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.