Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires 10,713 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 10,713 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $13.62 per share, for a total transaction of $145,911.06. Following the completion of the purchase, the insider now owns 3,079,443 shares in the company, valued at approximately $41,942,013.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, May 2nd, Saba Capital Management, L.P. purchased 26,274 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.46 per share, for a total transaction of $353,648.04.
• On Tuesday, April 30th, Saba Capital Management, L.P. purchased 16,573 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $13.13 per share, for a total transaction of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.00 per share, for a total transaction of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average price of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

Shares of NYSE:HQL traded up $0.07 during trading on Tuesday, reaching $13.74. The stock had a trading volume of 93,949 shares, compared to its average volume of 108,034. Abrdn Life Sciences Investors has a 52 week low of $11.34 and a 52 week high of $14.37. The business’s 50-day moving average price is $13.40 and its 200 day moving average price is $13.16.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.56 dividend on an annualized basis and a yield of 11.35%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Trading of Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new stake in Abrdn Life Sciences Investors during the 1st quarter worth about $27,000. Matisse Capital bought a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $135,000. Blue Bell Private Wealth Management LLC increased its holdings in shares of Abrdn Life Sciences Investors by 60.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after purchasing an additional 3,811 shares in the last quarter. Eudaimonia Partners LLC bought a new position in Abrdn Life Sciences Investors in the 1st quarter worth approximately $142,000. Finally, International Assets Investment Management LLC lifted its holdings in Abrdn Life Sciences Investors by 3,424.5% during the 4th quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after buying an additional 10,753 shares in the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.

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.