Saba Capital Management, L.P. Sells 36,536 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 36,536 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00. Following the completion of the sale, the insider now directly owns 3,276,181 shares in the company, valued at approximately $45,047,488.75. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock 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 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 transaction of $164,836.88.

Abrdn Life Sciences Investors Stock Up 0.4 %

HQL stock opened at $14.01 on Friday. Abrdn Life Sciences Investors has a fifty-two week low of $12.76 and a fifty-two week high of $15.90. The firm’s 50-day simple moving average is $13.74 and its 200 day simple moving average is $14.51.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 13.42%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several large investors have recently bought and sold shares of HQL. Penserra Capital Management LLC acquired a new position in Abrdn Life Sciences Investors during the 3rd quarter valued at about $11,702,000. Absolute Investment Advisers LLC acquired a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $5,242,000. Raymond James Financial Inc. acquired a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $3,129,000. LPL Financial LLC increased its stake in Abrdn Life Sciences Investors by 82.0% during the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock valued at $3,767,000 after buying an additional 129,313 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $1,594,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

About Abrdn Life Sciences Investors

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.