Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 96,500 shares, a growth of 94.6% from the February 13th total of 49,600 shares. Based on an average daily trading volume, of 135,800 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the stock are sold short.

Abrdn Life Sciences Investors Trading Down 0.3 %

HQL stock traded down $0.04 during trading on Friday, hitting $12.95. The stock had a trading volume of 73,073 shares, compared to its average volume of 97,397. The company’s 50 day moving average price is $13.67 and its two-hundred day moving average price is $14.25. Abrdn Life Sciences Investors has a 1-year low of $12.69 and a 1-year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 14.52%. The ex-dividend date is Friday, February 21st.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 42,987 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $13.95, for a total value of $599,668.65. Following the completion of the transaction, the insider now owns 3,332,473 shares of the company’s stock, valued at approximately $46,487,998.35. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 108,386 shares of company stock worth $1,511,590 in the last three months. Corporate insiders own 10.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Absolute Investment Advisers LLC acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $5,242,000. Sanctuary Advisors LLC increased its stake in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after acquiring an additional 1,355 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Abrdn Life Sciences Investors during the 3rd quarter valued at about $11,702,000. Wolverine Asset Management LLC acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $1,594,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Abrdn Life Sciences Investors by 7.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,200 shares during the last quarter. 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.