Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Purchases 13,812 Shares of Stock

Posted by Stacy Sanders on Jun 28th, 2024

Abrdn Life Sciences Investors (NYSE:HQL – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 13,812 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $14.08 per share, with a total value of $194,472.96. Following the acquisition, the insider now directly owns 3,429,891 shares in the company, valued at $48,292,865.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Wednesday, June 26th, Saba Capital Management, L.P. acquired 100 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average cost of $14.07 per share, for a total transaction of $1,407.00.
On Wednesday, June 12th, Saba Capital Management, L.P. bought 2,400 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.88 per share, with a total value of $33,312.00.
On Monday, June 10th, Saba Capital Management, L.P. purchased 9,704 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average price of $13.71 per share, for a total transaction of $133,041.84.
On Thursday, June 6th, Saba Capital Management, L.P. acquired 9,598 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.80 per share, with a total value of $132,452.40.
On Tuesday, June 4th, Saba Capital Management, L.P. bought 33,357 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $450,319.50.
On Thursday, May 30th, Saba Capital Management, L.P. purchased 669 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.05 per share, with a total value of $8,730.45.
On Tuesday, May 28th, Saba Capital Management, L.P. acquired 8,714 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.38 per share, for a total transaction of $116,593.32.
On Thursday, May 23rd, Saba Capital Management, L.P. acquired 1,303 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.50 per share, with a total value of $17,590.50.
On Wednesday, May 15th, Saba Capital Management, L.P. purchased 34,755 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $14.19 per share, for a total transaction of $493,173.45.
On Friday, May 10th, Saba Capital Management, L.P. acquired 57,862 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $13.86 per share, with a total value of $801,967.32.

Abrdn Life Sciences Investors Trading Up 0.7 %

HQL opened at $14.17 on Friday. The business’s 50-day moving average is $13.63 and its two-hundred day moving average is $13.63. Abrdn Life Sciences Investors has a 1 year low of $11.34 and a 1 year high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd will be given a $0.48 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 13.55%. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently bought and sold shares of HQL. HighTower Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors during the third quarter worth $394,000. Thomas J. Herzfeld Advisors Inc. increased its position in Abrdn Life Sciences Investors by 13.0% during the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 116,904 shares of the company’s stock valued at $1,458,000 after buying an additional 13,414 shares in the last quarter. Clough Capital Partners L P purchased a new stake in Abrdn Life Sciences Investors in the third quarter valued at about $1,627,000. Saba Capital Management L.P. raised its stake in Abrdn Life Sciences Investors by 98.3% in the third quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock valued at $3,387,000 after buying an additional 134,644 shares during the last quarter. Finally, AQR Arbitrage LLC grew its stake in shares of Abrdn Life Sciences Investors by 89.8% during the third quarter. AQR Arbitrage LLC now owns 272,496 shares of the company’s stock worth $3,398,000 after acquiring an additional 128,933 shares during the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

About Abrdn Life Sciences Investors

(Get Free Report)

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.