Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 42,987 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 42,987 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $13.95, for a total value of $599,668.65. Following the sale, the insider now directly owns 3,332,473 shares of the company’s stock, valued at $46,487,998.35. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 shares were 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

Shares of HQL opened at $13.75 on Thursday. The company has a 50-day moving average price of $13.74 and a two-hundred day moving average price of $14.53. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 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 given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 13.67%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at $11,702,000. Absolute Investment Advisers LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter worth $5,242,000. Needham Investment Management LLC lifted its holdings in shares of 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. LPL Financial LLC boosted its holdings in Abrdn Life Sciences Investors by 82.0% during the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock worth $3,767,000 after purchasing an additional 129,313 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Abrdn Life Sciences Investors in the fourth quarter valued at approximately $3,129,000. 32.21% of the stock is currently owned by 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.