Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Buys 16,573 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $13.13 per share, with a total value of $217,603.49. Following the transaction, the insider now owns 3,042,204 shares in the company, valued at $39,944,138.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price 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 shares were purchased at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Trading Up 1.7 %

NYSE:HQL opened at $13.30 on Thursday. Abrdn Life Sciences Investors has a 52 week low of $11.34 and a 52 week high of $14.37. The firm has a 50-day moving average price of $13.42 and a two-hundred day moving average price of $13.13.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a dividend of $0.39 per share. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a yield of 11.73%. The ex-dividend date was Wednesday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HQL. Kingsview Wealth Management LLC boosted 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 during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Abrdn Life Sciences Investors by 1.7% during the third 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 during the last quarter. Shaker Financial Services LLC boosted its position in Abrdn Life Sciences Investors by 2.1% during the third quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock worth $830,000 after purchasing an additional 1,342 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Abrdn Life Sciences Investors in the first quarter worth about $27,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Abrdn Life Sciences Investors by 60.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after purchasing an additional 3,811 shares in the last quarter. Institutional investors own 32.21% of the company’s stock.

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.