Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Purchases 10,713 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 10,713 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $13.62 per share, with a total value of $145,911.06. Following the purchase, the insider now owns 3,079,443 shares in the company, valued at $41,942,013.66. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 purchased 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. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. purchased 20,529 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of HQL stock opened at $13.74 on Wednesday. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37. The business has a 50-day simple moving average of $13.40 and a 200-day simple moving average of $13.18.

Abrdn Life Sciences Investors Increases Dividend

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

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several institutional investors have recently made changes to their positions in HQL. Future Financial Wealth Managment LLC acquired a new stake in Abrdn Life Sciences Investors during the first quarter valued at $27,000. Matisse Capital acquired a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $135,000. Blue Bell Private Wealth Management LLC increased its stake in shares of Abrdn Life Sciences Investors by 60.4% in the 4th 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 purchased a new position in shares of Abrdn Life Sciences Investors in the 1st quarter valued at about $142,000. Finally, International Assets Investment Management LLC raised its holdings in Abrdn Life Sciences Investors by 3,424.5% in the 4th quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after purchasing an additional 10,753 shares during the period. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.