Saba Capital Management, L.P. Sells 42,987 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 42,987 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $13.95, for a total value of $599,668.65. Following the sale, the insider now directly owns 3,332,473 shares of the company’s stock, valued at $46,487,998.35. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.27, for a total value of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Shares of NYSE HQL opened at $14.01 on Friday. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90. The stock’s 50 day moving average price is $13.74 and its 200-day moving average price is $14.51.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.42%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently modified their holdings of HQL. Penserra Capital Management LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter worth approximately $11,702,000. Absolute Investment Advisers LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $5,242,000. Raymond James Financial Inc. purchased a new position in Abrdn Life Sciences Investors in the fourth quarter valued at approximately $3,129,000. LPL Financial LLC lifted its stake in Abrdn Life Sciences Investors by 82.0% in the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock valued at $3,767,000 after purchasing an additional 129,313 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Abrdn Life Sciences Investors in the fourth quarter valued at approximately $1,594,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.