Saba Capital Management L.P. Has $15.41 Million Stock Holdings in abrdn Life Sciences Investors $HQL

Saba Capital Management L.P. decreased its stake in abrdn Life Sciences Investors (NYSE:HQL) by 55.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 947,346 shares of the company’s stock after selling 1,169,828 shares during the period. Saba Capital Management L.P.’s holdings in abrdn Life Sciences Investors were worth $15,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in abrdn Life Sciences Investors by 200.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock worth $29,000 after acquiring an additional 1,529 shares in the last quarter. Global Retirement Partners LLC boosted 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 in the fourth quarter valued at approximately $177,000. Evolve Private Wealth LLC bought a new position in abrdn Life Sciences Investors in the fourth quarter valued at approximately $199,000. Finally, Independent Financial Group LLC acquired a new position in shares of abrdn Life Sciences Investors during the 1st quarter worth approximately $211,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

abrdn Life Sciences Investors Stock Up 0.6%

NYSE:HQL opened at $19.37 on Tuesday. abrdn Life Sciences Investors has a twelve month low of $13.01 and a twelve month high of $21.32. The stock’s 50 day moving average price is $18.57 and its two-hundred day moving average price is $17.57.

abrdn Life Sciences Investors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, May 21st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.24 annualized dividend and a dividend yield of 11.6%.

abrdn Life Sciences Investors 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.