Short Interest in abrdn Life Sciences Investors (NYSE:HQL) Expands By 71.7%

abrdn Life Sciences Investors (NYSE:HQL) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 32,205 shares, a growth of 71.7% from the February 26th total of 18,752 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 133,056 shares, the days-to-cover ratio is currently 0.2 days.

abrdn Life Sciences Investors Stock Performance

HQL stock traded down $0.51 during mid-day trading on Friday, reaching $16.03. The company had a trading volume of 92,000 shares, compared to its average volume of 107,964. abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $17.80. The stock’s 50-day simple moving average is $16.73 and its two-hundred day simple moving average is $16.52.

abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 14.0%. This is an increase from abrdn Life Sciences Investors’s previous quarterly dividend of $0.50.

Institutional Investors Weigh In On abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently bought and sold shares of HQL. Royal Bank of Canada boosted its holdings in shares of abrdn Life Sciences Investors by 53.3% in the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock worth $934,000 after buying an additional 25,542 shares during the period. NewEdge Advisors LLC raised its holdings in shares of abrdn Life Sciences Investors by 43.1% during the first quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock valued at $412,000 after acquiring an additional 9,785 shares during the period. Advisors Asset Management Inc. lifted its position in shares of abrdn Life Sciences Investors by 0.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 160,173 shares of the company’s stock valued at $2,052,000 after acquiring an additional 1,487 shares in the last quarter. First Trust Advisors LP lifted its position in shares of abrdn Life Sciences Investors by 112.2% in the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock valued at $452,000 after acquiring an additional 18,674 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in abrdn Life Sciences Investors by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock worth $4,816,000 after purchasing an additional 63,429 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.