Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $216,090.61 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,143 shares of the stock in a transaction 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 sale, the insider now directly owns 3,381,371 shares of the company’s stock, valued at $48,252,164.17. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases 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 shares were sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Up 0.2 %

Shares of Abrdn Life Sciences Investors stock opened at $14.05 on Wednesday. Abrdn Life Sciences Investors has a 1 year low of $12.76 and a 1 year high of $15.90. The stock has a fifty day moving average price of $13.77 and a 200-day moving average price of $14.58.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.50 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 14.23%.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Large investors have recently made changes to their positions in the business. Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $5,242,000. Future Financial Wealth Managment LLC purchased a new stake in Abrdn Life Sciences Investors in the 3rd quarter worth about $30,000. Sanctuary Advisors LLC increased its holdings in Abrdn Life Sciences Investors by 11.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after acquiring an additional 1,355 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Abrdn Life Sciences Investors in the 3rd quarter worth about $11,702,000. Finally, International Assets Investment Management LLC purchased a new stake in Abrdn Life Sciences Investors in the 3rd quarter worth about $204,000. 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.