abrdn Life Sciences Investors (NYSE:HQL) Sets New 1-Year High – Still a Buy?

abrdn Life Sciences Investors (NYSE:HQL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.48 and last traded at $18.2210, with a volume of 49296 shares trading hands. The stock had previously closed at $17.96.

abrdn Life Sciences Investors Price Performance

The firm has a 50-day moving average price of $17.53 and a 200 day moving average price of $17.06.

abrdn Life Sciences Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.56 per share. The ex-dividend date is Thursday, May 21st. This represents a $2.24 annualized dividend and a yield of 12.2%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in shares of abrdn Life Sciences Investors by 17.6% in the first quarter. NewEdge Advisors LLC now owns 23,788 shares of the company’s stock valued at $387,000 after purchasing an additional 3,562 shares during the period. WNY Asset Management LLC acquired a new position in abrdn Life Sciences Investors during the 1st quarter valued at about $239,000. Bank of America Corp DE raised its position in shares of abrdn Life Sciences Investors by 8.6% during the 1st quarter. Bank of America Corp DE now owns 115,585 shares of the company’s stock worth $1,881,000 after buying an additional 9,145 shares in the last quarter. Royal Bank of Canada raised its position in shares of abrdn Life Sciences Investors by 16.5% during the 1st quarter. Royal Bank of Canada now owns 121,240 shares of the company’s stock worth $1,972,000 after buying an additional 17,152 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of abrdn Life Sciences Investors by 17.6% in the 1st quarter. First Trust Advisors LP now owns 57,337 shares of the company’s stock worth $933,000 after acquiring an additional 8,567 shares during the period. 32.21% of the stock is currently owned by institutional investors.

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.