Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $502,370.00 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 36,536 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $13.75, for a total value of $502,370.00. Following the completion of the transaction, the insider now directly owns 3,276,181 shares in the company, valued at $45,047,488.75. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were 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 shares were 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 shares were sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Up 0.4 %

NYSE HQL opened at $14.01 on Friday. Abrdn Life Sciences Investors has a 1 year low of $12.76 and a 1 year high of $15.90. The business’s fifty day moving average is $13.74 and its two-hundred day moving average is $14.51.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 13.42%. The ex-dividend date is Friday, February 21st.

Institutional Trading of Abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $290,000. Stifel Financial Corp raised its stake in Abrdn Life Sciences Investors by 67.1% during the 4th quarter. Stifel Financial Corp now owns 28,341 shares of the company’s stock valued at $372,000 after purchasing an additional 11,378 shares during the period. Guggenheim Capital LLC acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $211,000. Raymond James Financial Inc. acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $3,129,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $154,000. 32.21% of the stock is 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.