Saba Capital Management, L.P. Acquires 20,529 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 20,529 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average price of $13.12 per share, with a total value of $269,340.48. Following the acquisition, the insider now owns 2,807,724 shares in the company, valued at $36,837,338.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price 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 purchased at an average price of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of HQL stock traded up $0.05 during mid-day trading on Friday, hitting $13.00. The stock had a trading volume of 100,255 shares, compared to its average volume of 111,023. Abrdn Life Sciences Investors has a 12-month low of $11.34 and a 12-month high of $14.37. The firm’s 50-day moving average is $13.49 and its two-hundred day moving average is $13.10.

Abrdn Life Sciences Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.00%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several hedge funds have recently made changes to their positions in HQL. Allspring Global Investments Holdings LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 12.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 347,615 shares of the company’s stock worth $4,335,000 after buying an additional 38,000 shares during the period. 180 Wealth Advisors LLC lifted its stake in shares of Abrdn Life Sciences Investors by 5.3% during the 3rd quarter. 180 Wealth Advisors LLC now owns 114,724 shares of the company’s stock worth $1,431,000 after purchasing an additional 5,725 shares during the last quarter. Shaker Financial Services LLC lifted its stake in shares of Abrdn Life Sciences Investors by 2.1% during the 3rd quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock worth $830,000 after purchasing an additional 1,342 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Abrdn Life Sciences Investors by 78.9% during the 3rd quarter. Private Advisor Group LLC now owns 35,046 shares of the company’s stock worth $435,000 after purchasing an additional 15,459 shares during the last quarter. Finally, RPO LLC lifted its stake in shares of Abrdn Life Sciences Investors by 75.7% during the 3rd quarter. RPO LLC now owns 327,042 shares of the company’s stock worth $4,078,000 after purchasing an additional 140,942 shares during the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Company Profile

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.