Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 36,536 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 36,536 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $13.75, for a total transaction of $502,370.00. Following the completion of the sale, the insider now directly owns 3,276,181 shares of the company’s stock, valued at approximately $45,047,488.75. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% 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 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 transaction of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were 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 stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Trading Up 1.2 %

NYSE:HQL opened at $13.97 on Friday. Abrdn Life Sciences Investors has a fifty-two week low of $12.76 and a fifty-two week high of $15.90. The stock has a fifty day moving average price of $13.74 and a 200-day moving average price of $14.53.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 13.46%.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently bought and sold shares of the company. BankPlus Trust Department bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth approximately $28,000. Steward Partners Investment Advisory LLC raised its position in Abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after purchasing an additional 3,847 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Abrdn Life Sciences Investors during the third quarter worth $148,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $154,000. Finally, Kapstone Financial Advisors LLC bought a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at $177,000. 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.