Saba Capital Management, L.P. Purchases 81,738 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 81,738 shares of Abrdn Life Sciences Investors stock in a transaction dated Thursday, April 18th. The shares were acquired at an average price of $12.80 per share, with a total value of $1,046,246.40. Following the completion of the purchase, the insider now directly owns 2,694,511 shares in the company, valued at approximately $34,489,740.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $12.88 per share, with a total value of $26,043.36.

Abrdn Life Sciences Investors Trading Down 0.2 %

Shares of NYSE HQL opened at $13.13 on Thursday. Abrdn Life Sciences Investors has a 12 month low of $11.34 and a 12 month high of $14.37. The stock has a 50 day moving average of $13.53 and a 200-day moving average of $13.10.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.39 per share. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a dividend yield of 11.88%. The ex-dividend date was Wednesday, February 21st.

Institutional Trading of Abrdn Life Sciences Investors

Several institutional investors have recently added to or reduced their stakes in HQL. Allspring Global Investments Holdings LLC boosted its stake in Abrdn Life Sciences Investors by 12.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 347,615 shares of the company’s stock valued at $4,335,000 after purchasing an additional 38,000 shares during the period. 180 Wealth Advisors LLC boosted its stake in Abrdn Life Sciences Investors by 5.3% in the 3rd quarter. 180 Wealth Advisors LLC now owns 114,724 shares of the company’s stock valued at $1,431,000 after purchasing an additional 5,725 shares during the period. Shaker Financial Services LLC boosted its stake in Abrdn Life Sciences Investors by 2.1% in the 3rd quarter. Shaker Financial Services LLC now owns 66,528 shares of the company’s stock valued at $830,000 after purchasing an additional 1,342 shares during the period. Private Advisor Group LLC boosted its stake in Abrdn Life Sciences Investors by 78.9% in the 3rd quarter. Private Advisor Group LLC now owns 35,046 shares of the company’s stock valued at $435,000 after purchasing an additional 15,459 shares during the period. Finally, RPO LLC boosted its stake in Abrdn Life Sciences Investors by 75.7% in the 3rd quarter. RPO LLC now owns 327,042 shares of the company’s stock valued at $4,078,000 after purchasing an additional 140,942 shares during the period. 32.21% of the stock is currently owned by 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.