Saba Capital Management, L.P. Sells 1,846 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 1,846 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38. Following the transaction, the insider now owns 3,379,525 shares in the company, valued at approximately $47,414,735.75. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 value 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 Stock Down 1.7 %

Shares of HQL stock opened at $14.03 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 firm’s 50 day moving average price is $13.78 and its two-hundred day moving average price is $14.57.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were issued a dividend of $0.50 per share. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 14.26%.

Institutional Trading of Abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in the stock. Stephens Inc. AR lifted its stake in shares of Abrdn Life Sciences Investors by 7.6% during the third quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock worth $192,000 after purchasing an additional 896 shares in the last quarter. Kapstone Financial Advisors LLC lifted its position in Abrdn Life Sciences Investors by 11.0% during the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock worth $185,000 after acquiring an additional 1,300 shares in the last quarter. Sanctuary Advisors LLC grew 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 acquiring an additional 1,355 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Abrdn Life Sciences Investors in the third quarter valued at approximately $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $28,000. 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.