abrdn Life Sciences Investors (NYSE:HQL) Sets New 52-Week High After Dividend Announcement

abrdn Life Sciences Investors (NYSE:HQL) shares reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $18.46 and last traded at $18.14, with a volume of 115552 shares changing hands. The stock had previously closed at $18.19.

The newly announced dividend which will be paid on Saturday, May 30th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Thursday, May 21st.

abrdn Life Sciences Investors Trading Down 0.3%

The firm’s 50-day moving average price is $16.98 and its two-hundred day moving average price is $16.98.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake 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 lifted its holdings in abrdn Life Sciences Investors by 187.8% in the 4th quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock valued at $118,000 after purchasing an additional 4,593 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of abrdn Life Sciences Investors during the 4th quarter worth about $177,000. Cornerstone Advisors LLC purchased a new position in shares of abrdn Life Sciences Investors during the 3rd quarter worth about $175,000. Finally, Evolve Private Wealth LLC purchased a new position in abrdn Life Sciences Investors in the fourth quarter valued at approximately $199,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

About abrdn Life Sciences Investors

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.