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 stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total value of $502,370.00. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares 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 value 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 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 stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Abrdn Life Sciences Investors stock opened at $14.01 on Friday. The stock’s 50 day moving average is $13.74 and its 200 day moving average is $14.51. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90.

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 paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 annualized dividend and a dividend yield of 13.42%.

Institutional Trading of Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently made changes to their positions in HQL. Stephens Inc. AR boosted its stake in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after purchasing an additional 896 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Abrdn Life Sciences Investors by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock valued at $395,000 after purchasing an additional 933 shares during the last quarter. Kapstone Financial Advisors LLC boosted its stake 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 valued at $185,000 after purchasing an additional 1,300 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after purchasing an additional 1,355 shares during the last quarter. Finally, BankPlus Trust Department purchased a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.