Saba Capital Management, L.P. Sells 1,846 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 1,846 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.03, for a total transaction of $25,899.38. Following the completion of the sale, the insider now directly owns 3,379,525 shares in the company, valued at approximately $47,414,735.75. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 Price Performance

Shares of NYSE:HQL opened at $14.26 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 50-day moving average is $13.77 and its 200-day moving average is $14.58.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a $0.50 dividend. The ex-dividend date was Thursday, November 21st. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 14.03%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $3,129,000. Kapstone Financial Advisors LLC grew its holdings in 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 worth $185,000 after purchasing an additional 1,300 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after purchasing an additional 3,847 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at about $28,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $1,594,000. 32.21% of the stock is currently owned by institutional investors.

Abrdn Life Sciences Investors Company Profile

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.