Saba Capital Management, L.P. Sells 15,143 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,143 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $14.27, for a total value of $216,090.61. Following the completion of the transaction, the insider now directly owns 3,381,371 shares of the company’s stock, valued at $48,252,164.17. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Trading Down 1.4 %

Shares of NYSE HQL opened at $14.01 on Tuesday. The stock has a 50 day moving average of $13.77 and a two-hundred day moving average of $14.59. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 14.28%.

Institutional Trading of Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently added to or reduced their stakes in HQL. Future Financial Wealth Managment LLC acquired a new position in Abrdn Life Sciences Investors in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new position in Abrdn Life Sciences Investors in the third quarter valued at about $148,000. Sanctuary Advisors LLC acquired a new position in Abrdn Life Sciences Investors during the second quarter worth $154,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth $160,000. Finally, Kapstone Financial Advisors LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the third quarter valued at about $177,000. 32.21% of the stock is 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.