abrdn Life Sciences Investors $HQL Position Raised by Penserra Capital Management LLC

Penserra Capital Management LLC grew its position in shares of abrdn Life Sciences Investors (NYSE:HQL) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 769,657 shares of the company’s stock after purchasing an additional 22,736 shares during the quarter. Penserra Capital Management LLC’s holdings in abrdn Life Sciences Investors were worth $9,859,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HQL. Shaker Financial Services LLC lifted its position in abrdn Life Sciences Investors by 32.6% in the 2nd quarter. Shaker Financial Services LLC now owns 31,062 shares of the company’s stock valued at $398,000 after purchasing an additional 7,632 shares during the last quarter. Wolverine Asset Management LLC increased its stake in shares of abrdn Life Sciences Investors by 13.8% in the second quarter. Wolverine Asset Management LLC now owns 142,920 shares of the company’s stock valued at $1,831,000 after purchasing an additional 17,382 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of abrdn Life Sciences Investors by 0.3% during the second quarter. Flagship Harbor Advisors LLC now owns 341,959 shares of the company’s stock valued at $4,380,000 after buying an additional 1,082 shares during the last quarter. WNY Asset Management LLC boosted its position in shares of abrdn Life Sciences Investors by 3.4% during the second quarter. WNY Asset Management LLC now owns 24,955 shares of the company’s stock worth $320,000 after buying an additional 821 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in abrdn Life Sciences Investors by 5.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 143,098 shares of the company’s stock worth $1,833,000 after buying an additional 6,976 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 41,623 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.14, for a total value of $588,549.22. Following the completion of the transaction, the insider owned 2,837,633 shares in the company, valued at $40,124,130.62. This represents a 1.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 179,906 shares of company stock valued at $2,530,720 over the last three months. Corporate insiders own 10.06% of the company’s stock.

abrdn Life Sciences Investors Stock Performance

HQL opened at $15.92 on Friday. The stock’s 50 day moving average price is $15.51 and its 200 day moving average price is $13.84. abrdn Life Sciences Investors has a 12 month low of $10.55 and a 12 month high of $17.80.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 22nd were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date was Friday, August 22nd.

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.