Abrdn Life Sciences Investors (NYSE:HQL) Sees Large Growth in Short Interest

Abrdn Life Sciences Investors (NYSE:HQL) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 96,500 shares, an increase of 94.6% from the February 13th total of 49,600 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 135,800 shares, the days-to-cover ratio is currently 0.7 days.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL opened at $12.95 on Friday. The business’s fifty day moving average price is $13.67 and its 200 day moving average price is $14.25. Abrdn Life Sciences Investors has a 12-month low of $12.69 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 14.52%. The ex-dividend date is Friday, February 21st.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 15,143 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $14.27, for a total transaction of $216,090.61. Following the transaction, the insider now directly owns 3,381,371 shares in the company, valued at $48,252,164.17. This trade represents a 0.45 % 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 108,386 shares of company stock worth $1,511,590. 10.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in HQL. Penserra Capital Management LLC bought a new stake in Abrdn Life Sciences Investors in the third quarter valued at $11,702,000. Absolute Investment Advisers LLC bought a new stake in Abrdn Life Sciences Investors in the fourth quarter valued at $5,242,000. Raymond James Financial Inc. bought a new stake in Abrdn Life Sciences Investors in the fourth quarter valued at $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 buying an additional 129,313 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Abrdn Life Sciences Investors in the fourth quarter valued at $1,594,000. 32.21% of the stock is currently owned by institutional investors.

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.