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

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 42,987 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $13.95, for a total value of $599,668.65. Following the completion of the sale, the insider now directly owns 3,332,473 shares in the company, valued at approximately $46,487,998.35. This represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large 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 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 transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction 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 Down 0.1 %

Shares of HQL opened at $13.75 on Thursday. Abrdn Life Sciences Investors has a 12 month low of $12.76 and a 12 month high of $15.90. The stock has a 50 day moving average of $13.74 and a 200 day moving average of $14.53.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.67%. The ex-dividend date is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQL. Landscape Capital Management L.L.C. purchased a new stake in Abrdn Life Sciences Investors during the fourth quarter valued at about $154,000. LPL Financial LLC boosted its stake in shares of Abrdn Life Sciences Investors by 82.0% during the 4th 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 in the last quarter. Commonwealth Equity Services LLC raised its position in shares of 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 worth $395,000 after acquiring an additional 933 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Abrdn Life Sciences Investors during the fourth quarter valued at $3,129,000. Finally, Kapstone Financial Advisors LLC boosted its stake in Abrdn Life Sciences Investors by 11.0% during the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock worth $185,000 after acquiring an additional 1,300 shares in the last quarter. 32.21% of the stock is currently owned by hedge funds and other 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.