Saba Capital Management, L.P. Buys 120,304 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 120,304 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $1,563,952.00. Following the completion of the acquisition, the insider now directly owns 3,025,602 shares in the company, valued at $39,332,826. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. bought 81,738 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

HQL stock opened at $13.11 on Wednesday. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37. The company’s 50 day simple moving average is $13.43 and its 200-day simple moving average is $13.12.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.90%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Abrdn Life Sciences Investors by 12.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 347,615 shares of the company’s stock valued at $4,335,000 after purchasing an additional 38,000 shares in the last quarter. 180 Wealth Advisors LLC grew its position in Abrdn Life Sciences Investors by 5.3% during the third quarter. 180 Wealth Advisors LLC now owns 114,724 shares of the company’s stock valued at $1,431,000 after purchasing an additional 5,725 shares in the last quarter. Shaker Financial Services LLC grew its position in Abrdn Life Sciences Investors by 2.1% during the third quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock valued at $830,000 after purchasing an additional 1,342 shares in the last quarter. Private Advisor Group LLC grew its position in Abrdn Life Sciences Investors by 78.9% during the third quarter. Private Advisor Group LLC now owns 35,046 shares of the company’s stock valued at $435,000 after purchasing an additional 15,459 shares in the last quarter. Finally, RPO LLC grew its position in Abrdn Life Sciences Investors by 75.7% during the third quarter. RPO LLC now owns 327,042 shares of the company’s stock valued at $4,078,000 after purchasing an additional 140,942 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

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.