Saba Capital Management, L.P. Sells 29,102 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 29,102 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $12.28, for a total value of $357,372.56. Following the completion of the transaction, the insider now owns 3,141,682 shares in the company, valued at approximately $38,579,854.96. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total transaction of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total transaction of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was 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 stock was sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Price Performance

HQL opened at $11.43 on Friday. Abrdn Life Sciences Investors has a fifty-two week low of $11.41 and a fifty-two week high of $15.90. The company’s 50-day moving average is $13.42 and its 200 day moving average is $14.02.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a dividend of $0.47 per share. The ex-dividend date was Friday, February 21st. This represents a $1.88 annualized dividend and a dividend yield of 16.45%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several institutional investors have recently modified their holdings of the business. BankPlus Trust Department bought a new stake in Abrdn Life Sciences Investors during the fourth quarter worth $28,000. Steward Partners Investment Advisory LLC increased its position in shares of Abrdn Life Sciences Investors by 379.8% during the 4th 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 during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth $154,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 4th quarter worth about $160,000. Finally, Sanctuary Advisors LLC grew its position in Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after buying an additional 1,355 shares during the period. 32.21% of the stock is owned by 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.