Saba Capital Management, L.P. Sells 11,674 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the completion of the sale, the insider now owns 3,418,349 shares of the company’s stock, valued at $48,267,087.88. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abrdn Life Sciences Investors Price Performance

NYSE HQL opened at $14.23 on Friday. The company’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $14.60. Abrdn Life Sciences Investors has a one year low of $12.76 and a one year high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 14.05%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the third quarter valued at about $148,000. Kapstone Financial Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at about $177,000. Sanctuary Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 2nd quarter worth approximately $154,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth approximately $160,000. 32.21% of the stock is currently owned by hedge funds and other 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.