Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Purchases 120,304 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 120,304 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were acquired at an average cost of $13.00 per share, with a total value of $1,563,952.00. Following the purchase, the insider now directly owns 3,025,602 shares of the company’s stock, valued at approximately $39,332,826. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Tuesday, April 30th, Saba Capital Management, L.P. bought 16,573 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.13 per share, with a total value of $217,603.49.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $12.88 per share, with a total value of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 1.7 %

HQL opened at $13.30 on Thursday. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year high of $14.37. The company has a fifty day moving average price of $13.42 and a two-hundred day moving average price of $13.13.

Abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were paid a $0.39 dividend. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a yield of 11.73%. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its stake in Abrdn Life Sciences Investors by 2.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 36,937 shares of the company’s stock valued at $497,000 after purchasing an additional 904 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Abrdn Life Sciences Investors by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 72,249 shares of the company’s stock valued at $901,000 after buying an additional 1,220 shares during the last quarter. Shaker Financial Services LLC grew its holdings in shares of Abrdn Life Sciences Investors by 2.1% during the third quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock valued at $830,000 after buying an additional 1,342 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Abrdn Life Sciences Investors during the first quarter valued at about $27,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Abrdn Life Sciences Investors by 60.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after buying an additional 3,811 shares during the last quarter. 32.21% of the stock is 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.