Saba Capital Management, L.P. Sells 48,623 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.58, for a total value of $611,677.34. Following the completion of the transaction, the insider now owns 3,188,405 shares in the company, valued at $40,110,134.90. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total value of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total transaction of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.75, for a total transaction of $502,370.00.
• 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 transaction of $599,668.65.
• 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 Down 3.0 %

NYSE:HQL traded down $0.38 during trading hours on Tuesday, hitting $12.32. 173,213 shares of the company were exchanged, compared to its average volume of 99,025. Abrdn Life Sciences Investors has a 52-week low of $12.29 and a 52-week high of $15.90. The company’s 50 day moving average price is $13.57 and its 200-day moving average price is $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.27%. The ex-dividend date was Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HQL. Commonwealth Equity Services LLC increased its holdings in shares of Abrdn Life Sciences Investors by 3.2% in the fourth 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 period. Kapstone Financial Advisors LLC increased its holdings in Abrdn Life Sciences Investors by 11.0% in the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock worth $185,000 after buying an additional 1,300 shares during the period. Sanctuary Advisors LLC raised its position 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 worth $183,000 after buying an additional 1,355 shares during the last quarter. BankPlus Trust Department acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at approximately $28,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 379.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after acquiring an additional 3,847 shares during the last quarter. 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.