abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Increase in Short Interest

abrdn Life Sciences Investors (NYSE:HQL) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 32,205 shares, an increase of 71.7% from the February 26th total of 18,752 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 133,056 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On abrdn Life Sciences Investors

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of abrdn Life Sciences Investors by 53.3% during the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock valued at $934,000 after acquiring an additional 25,542 shares in the last quarter. NewEdge Advisors LLC grew its position in abrdn Life Sciences Investors by 43.1% during the 1st quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock worth $412,000 after purchasing an additional 9,785 shares during the last quarter. Advisors Asset Management Inc. grew its position in abrdn Life Sciences Investors by 0.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 160,173 shares of the company’s stock worth $2,052,000 after purchasing an additional 1,487 shares during the last quarter. First Trust Advisors LP increased its stake in abrdn Life Sciences Investors by 112.2% during the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock valued at $452,000 after purchasing an additional 18,674 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in abrdn Life Sciences Investors by 20.3% during the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock valued at $4,816,000 after purchasing an additional 63,429 shares in the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

abrdn Life Sciences Investors Stock Performance

Shares of HQL traded down $0.51 during midday trading on Friday, hitting $16.03. 92,000 shares of the company’s stock traded hands, compared to its average volume of 107,964. abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $17.80. The firm’s fifty day moving average is $16.73 and its 200-day moving average is $16.52.

abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 14.0%. This is a boost from abrdn Life Sciences Investors’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, February 20th.

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.