Needham Investment Management LLC Boosts Stake in Abrdn Life Sciences Investors (NYSE:HQL)

Needham Investment Management LLC boosted its stake in Abrdn Life Sciences Investors (NYSE:HQL) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352,719 shares of the company’s stock after buying an additional 10,904 shares during the period. Needham Investment Management LLC owned approximately 1.29% of Abrdn Life Sciences Investors worth $5,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HQL. Future Financial Wealth Managment LLC acquired a new position in Abrdn Life Sciences Investors in the third quarter valued at about $30,000. B. Riley Wealth Advisors Inc. acquired a new position in Abrdn Life Sciences Investors in the first quarter valued at about $143,000. Ashton Thomas Securities LLC acquired a new position in Abrdn Life Sciences Investors in the third quarter valued at about $148,000. Sanctuary Advisors LLC acquired a new position in Abrdn Life Sciences Investors in the second quarter valued at about $154,000. Finally, Kapstone Financial Advisors LLC acquired a new position in Abrdn Life Sciences Investors in the third quarter valued at about $177,000. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Stock Up 1.0 %

Shares of HQL traded up $0.15 during mid-day trading on Tuesday, hitting $14.44. 16,765 shares of the company’s stock were exchanged, compared to its average volume of 92,573. Abrdn Life Sciences Investors has a fifty-two week low of $12.05 and a fifty-two week high of $15.90. The stock’s 50-day moving average is $14.74 and its 200-day moving average is $14.68.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 13.85%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49.

Abrdn Life Sciences Investors 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.