Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires $17,590.50 in Stock

Posted by Joseph Griffin on May 24th, 2024

Abrdn Life Sciences Investors (NYSE:HQL – Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,303 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $13.50 per share, with a total value of $17,590.50. Following the transaction, the insider now directly owns 3,251,883 shares in the company, valued at $43,900,420.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 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 Wednesday, May 15th, Saba Capital Management, L.P. bought 34,755 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $14.19 per share, for a total transaction of $493,173.45.
On Friday, May 10th, Saba Capital Management, L.P. bought 57,862 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.86 per share, for a total transaction of $801,967.32.
On Wednesday, May 8th, Saba Capital Management, L.P. bought 10,986 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $150,508.20.
On Monday, May 6th, Saba Capital Management, L.P. acquired 10,713 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.62 per share, for a total transaction of $145,911.06.
On Thursday, May 2nd, Saba Capital Management, L.P. acquired 26,274 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.46 per share, for a total transaction of $353,648.04.
On Tuesday, April 30th, Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.13 per share, for a total transaction of $217,603.49.
On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $13.00 per share, for a total transaction of $1,563,952.00.
On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were bought 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. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were 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. bought 81,738 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of NYSE HQL traded down $0.01 during midday trading on Friday, reaching $13.46. The company’s stock had a trading volume of 9,072 shares, compared to its average volume of 103,748. Abrdn Life Sciences Investors has a fifty-two week low of $11.34 and a fifty-two week high of $14.37. The stock has a 50 day simple moving average of $13.43 and a 200-day simple moving average of $13.34.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 14.26%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, May 22nd.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of institutional investors have recently modified their holdings of the business. Karpus Management Inc. acquired a new position in Abrdn Life Sciences Investors in the first quarter valued at about $4,709,000. Cornerstone Advisors LLC raised its stake in Abrdn Life Sciences Investors by 73.7% during the fourth quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock worth $6,654,000 after acquiring an additional 209,708 shares in the last quarter. RPO LLC raised its stake in Abrdn Life Sciences Investors by 75.7% during the third quarter. RPO LLC now owns 327,042 shares of the company’s stock worth $4,078,000 after acquiring an additional 140,942 shares in the last quarter. Saba Capital Management L.P. raised its stake in Abrdn Life Sciences Investors by 98.3% during the third quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock worth $3,387,000 after acquiring an additional 134,644 shares in the last quarter. Finally, Clough Capital Partners L P acquired a new position in Abrdn Life Sciences Investors during the third quarter worth about $1,627,000. Institutional investors own 32.21% of the company’s stock.

About Abrdn Life Sciences Investors

(Get Free Report)

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.