Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Buys $1,563,952.00 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 120,304 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $1,563,952.00. Following the completion of the transaction, the insider now owns 3,025,602 shares of the company’s stock, valued at approximately $39,332,826. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 price 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 stock was bought at an average price of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 1.0 %

Shares of NYSE:HQL traded up $0.13 on Monday, hitting $13.10. The company had a trading volume of 60,924 shares, compared to its average volume of 111,450. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37. The business has a 50 day moving average of $13.47 and a 200 day moving average of $13.11.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were paid a $0.39 dividend. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a yield of 11.91%. The ex-dividend date was Wednesday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several institutional investors have recently added to or reduced their stakes in HQL. Future Financial Wealth Managment LLC acquired a new stake in Abrdn Life Sciences Investors during the first quarter worth about $27,000. Matisse Capital acquired a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter valued at about $135,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Abrdn Life Sciences Investors by 60.4% in 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 in the last quarter. Eudaimonia Partners LLC acquired a new stake in shares of Abrdn Life Sciences Investors in the first quarter valued at about $142,000. Finally, International Assets Investment Management LLC boosted its holdings in Abrdn Life Sciences Investors by 3,424.5% in the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock valued at $149,000 after purchasing an additional 10,753 shares during the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.

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.