Closed End Fund Advisors Inc. Invests $498,000 in abrdn Life Sciences Investors $HQL

Closed End Fund Advisors Inc. purchased a new position in shares of abrdn Life Sciences Investors (NYSE:HQL) in the fourth quarter, HoldingsChannel reports. The firm purchased 29,706 shares of the company’s stock, valued at approximately $498,000.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of abrdn Life Sciences Investors by 200.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock worth $29,000 after purchasing an additional 1,529 shares during the period. Global Retirement Partners LLC grew its holdings in shares of abrdn Life Sciences Investors by 187.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock worth $118,000 after purchasing an additional 4,593 shares during the period. Cornerstone Advisors LLC purchased a new position in shares of abrdn Life Sciences Investors during the 3rd quarter worth $175,000. PMG Family Office LLC purchased a new position in shares of abrdn Life Sciences Investors during the 3rd quarter worth $351,000. Finally, Clough Capital Partners L P purchased a new position in shares of abrdn Life Sciences Investors during the 2nd quarter worth $318,000. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

abrdn Life Sciences Investors Stock Performance

Shares of abrdn Life Sciences Investors stock opened at $16.94 on Friday. The business has a 50-day moving average of $17.42 and a 200 day moving average of $17.07. abrdn Life Sciences Investors has a 12 month low of $12.34 and a 12 month high of $18.46.

abrdn Life Sciences Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, May 21st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date is Thursday, May 21st.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.