Wolverine Asset Management LLC Makes New $1.59 Million Investment in Abrdn Life Sciences Investors (NYSE:HQL)

Wolverine Asset Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors (NYSE:HQL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 121,463 shares of the company’s stock, valued at approximately $1,594,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the third quarter valued at about $11,702,000. Absolute Investment Advisers LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter valued at about $5,242,000. Needham Investment Management LLC lifted its position in shares of Abrdn Life Sciences Investors by 3.2% during the 3rd quarter. Needham Investment Management LLC now owns 352,719 shares of the company’s stock worth $5,319,000 after buying an additional 10,904 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Abrdn Life Sciences Investors by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock worth $1,199,000 after buying an additional 6,200 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Abrdn Life Sciences Investors in the third quarter valued at approximately $204,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 36,536 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00. Following the transaction, the insider now owns 3,276,181 shares of the company’s stock, valued at $45,047,488.75. This represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 108,186 shares of company stock worth $1,508,866. 10.06% of the stock is owned by company insiders.

Abrdn Life Sciences Investors Trading Down 3.0 %

Shares of Abrdn Life Sciences Investors stock opened at $13.84 on Friday. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 month high of $15.90. The business’s fifty day simple moving average is $13.74 and its 200 day simple moving average is $14.48.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared 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 13.58%.

Abrdn Life Sciences Investors 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.