Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 30,156 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 30,156 shares of Abrdn Life Sciences Investors stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $11.14, for a total transaction of $335,937.84. Following the transaction, the insider now directly owns 3,094,316 shares in the company, valued at $34,470,680.24. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% 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 Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.57, for a total value of $79,705.73.
• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total value of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total value of $611,677.34.
• 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 transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total value of $2,724.00.
• 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 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 stock was sold at an average price of $14.03, for a total transaction 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 transaction 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

HQL stock traded up $0.21 during trading on Monday, hitting $11.69. 85,400 shares of the company’s stock traded hands, compared to its average volume of 101,439. Abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.90. The business has a fifty day simple moving average of $13.01 and a two-hundred day simple moving average of $13.80.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 16.08%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Absolute Investment Advisers LLC acquired a new position in shares of Abrdn Life Sciences Investors in the fourth quarter valued at approximately $5,242,000. Raymond James Financial Inc. acquired a new position in Abrdn Life Sciences Investors during the 4th quarter worth approximately $3,129,000. LPL Financial LLC raised its holdings in shares of Abrdn Life Sciences Investors by 82.0% in the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock valued at $3,767,000 after purchasing an additional 129,313 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth $1,594,000. Finally, Jane Street Group LLC acquired a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth $290,000. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

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.