Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 60,400 shares, a decline of 37.4% from the February 28th total of 96,500 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 137,700 shares, the short-interest ratio is currently 0.4 days.

Abrdn Life Sciences Investors Trading Down 1.6 %

Shares of NYSE HQL traded down $0.21 during mid-day trading on Monday, reaching $12.67. The company had a trading volume of 225,864 shares, compared to its average volume of 98,729. Abrdn Life Sciences Investors has a 52-week low of $12.36 and a 52-week high of $15.90. The firm has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 14.84%. The ex-dividend date is Friday, February 21st.

Insider Transactions at Abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 42,987 shares of the company’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 completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 141,308 shares of company stock valued at $1,939,905. Insiders own 10.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HQL. Commonwealth Equity Services LLC increased its position in Abrdn Life Sciences Investors by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock valued at $395,000 after acquiring an additional 933 shares during the period. Kapstone Financial Advisors LLC increased its holdings in shares of Abrdn Life Sciences Investors by 11.0% in the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after purchasing an additional 1,300 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after purchasing an additional 1,355 shares during the period. BankPlus Trust Department purchased a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter worth approximately $28,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock worth $64,000 after purchasing an additional 3,847 shares during the period. 32.21% of the stock is currently owned by institutional investors and hedge funds.

About Abrdn Life Sciences Investors

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.