Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $353,648.04 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 26,274 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $13.46 per share, with a total value of $353,648.04. Following the acquisition, the insider now owns 3,068,730 shares in the company, valued at $41,305,105.80. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares 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. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.13 per share, for a total transaction of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average cost of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. purchased 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The shares were acquired 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. bought 81,738 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL opened at $13.59 on Friday. The company has a 50-day moving average price of $13.41 and a two-hundred day moving average price of $13.14. Abrdn Life Sciences Investors has a 12 month low of $11.34 and a 12 month high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 11.48%. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Trading of Abrdn Life Sciences Investors

Several institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 5.0% during the first quarter. Janney Montgomery Scott LLC now owns 86,110 shares of the company’s stock valued at $1,174,000 after acquiring an additional 4,100 shares during the period. Matisse Capital increased its position in shares of Abrdn Life Sciences Investors by 243.3% during the 1st quarter. Matisse Capital now owns 34,333 shares of the company’s stock worth $468,000 after purchasing an additional 24,333 shares in the last quarter. Eudaimonia Partners LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the 1st quarter worth about $142,000. Blue Bell Private Wealth Management LLC lifted its holdings in Abrdn Life Sciences Investors by 211.1% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 31,494 shares of the company’s stock valued at $429,000 after purchasing an additional 21,369 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Abrdn Life Sciences Investors by 20.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 158,089 shares of the company’s stock valued at $2,155,000 after buying an additional 27,012 shares in 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.