abrdn Life Sciences Investors (NYSE:HQL) Hits New 52-Week High – Still a Buy?

abrdn Life Sciences Investors (NYSE:HQL)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $21.32 and last traded at $20.02, with a volume of 155198 shares traded. The stock had previously closed at $20.28.

abrdn Life Sciences Investors Stock Performance

The business has a 50 day moving average of $18.19 and a 200 day moving average of $17.35.

abrdn Life Sciences Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, May 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position in abrdn Life Sciences Investors by 200.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock worth $29,000 after purchasing an additional 1,529 shares during the last quarter. Global Retirement Partners LLC lifted its position in abrdn Life Sciences Investors by 187.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock valued at $118,000 after purchasing an additional 4,593 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in abrdn Life Sciences Investors during the fourth quarter valued at $177,000. Evolve Private Wealth LLC purchased a new position in shares of abrdn Life Sciences Investors in the 4th quarter worth $199,000. Finally, Independent Financial Group LLC purchased a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth $211,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.