Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

Abrdn Life Sciences Investors (NYSE:HQL) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 60,400 shares, a decrease of 37.4% from the February 28th total of 96,500 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 137,700 shares, the short-interest ratio is currently 0.4 days.

Insider Activity at Abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $14.12, for a total transaction of $164,836.88. Following the completion of the sale, the insider now directly owns 3,418,349 shares in the company, valued at approximately $48,267,087.88. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 108,386 shares of company stock worth $1,511,590 over the last quarter. Insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQL. Needham Investment Management LLC boosted its holdings in Abrdn Life Sciences Investors by 3.2% in the third quarter. Needham Investment Management LLC now owns 352,719 shares of the company’s stock valued at $5,319,000 after purchasing an additional 10,904 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of 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 during the period. Janney Montgomery Scott LLC grew its position in shares of Abrdn Life Sciences Investors by 7.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock worth $1,199,000 after acquiring an additional 6,200 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $160,000. Finally, Absolute Investment Advisers LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter valued at $5,242,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

Abrdn Life Sciences Investors Trading Down 0.7 %

Abrdn Life Sciences Investors stock traded down $0.10 during mid-day trading on Friday, hitting $12.89. The company’s stock had a trading volume of 61,237 shares, compared to its average volume of 98,220. Abrdn Life Sciences Investors has a 1 year low of $12.69 and a 1 year high of $15.90. The stock’s fifty day moving average is $13.58 and its two-hundred day moving average is $14.11.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 14.59%. The ex-dividend date is Friday, February 21st.

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.