Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $599,668.65 in Stock

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 transaction of $599,668.65. Following the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 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 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 transaction of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Shares of NYSE:HQL traded down $0.03 during trading on Wednesday, reaching $13.75. The stock had a trading volume of 123,572 shares, compared to its average volume of 128,006. The business has a fifty day moving average price of $13.75 and a 200-day moving average price of $14.53. Abrdn Life Sciences Investors has a 1-year low of $12.76 and a 1-year high of $15.90.

Institutional Trading of Abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Abrdn Life Sciences Investors during the third quarter worth $11,702,000. Absolute Investment Advisers LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth about $5,242,000. Raymond James Financial Inc. acquired a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth about $3,129,000. LPL Financial LLC raised its holdings in Abrdn Life Sciences Investors by 82.0% in the 4th 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 period. Finally, Wolverine Asset Management LLC acquired a new position in Abrdn Life Sciences Investors in the fourth quarter valued at about $1,594,000. 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.