Saba Capital Management, L.P. Sells 42,987 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $13.95, for a total value of $599,668.65. Following the completion of the transaction, the insider now owns 3,332,473 shares of the company’s stock, valued at $46,487,998.35. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was 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 shares were sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Abrdn Life Sciences Investors stock opened at $13.97 on Friday. Abrdn Life Sciences Investors has a 1 year low of $12.76 and a 1 year high of $15.90. The firm’s 50-day moving average is $13.74 and its 200-day moving average is $14.53.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a $0.47 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 13.46%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several institutional investors have recently made changes to their positions in HQL. Sanctuary Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 2nd quarter worth approximately $154,000. International Assets Investment Management LLC acquired a new stake in Abrdn Life Sciences Investors in the third quarter worth $204,000. Stephens Inc. AR lifted its stake in Abrdn Life Sciences Investors by 7.6% in the third quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after buying an additional 896 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Abrdn Life Sciences Investors during the third quarter valued at $148,000. Finally, Kapstone Financial Advisors LLC bought a new position in shares of Abrdn Life Sciences Investors during the third quarter worth about $177,000. 32.21% of the stock is owned by 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.