Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Purchases $1,563,952.00 in Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 120,304 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $1,563,952.00. Following the transaction, the insider now directly owns 3,025,602 shares of the company’s stock, valued at approximately $39,332,826. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, April 30th, Saba Capital Management, L.P. bought 16,573 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.13 per share, for a total transaction of $217,603.49.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were bought 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. bought 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 Abrdn Life Sciences Investors stock opened at $13.30 on Thursday. The company’s fifty day moving average price is $13.42 and its two-hundred day moving average price is $13.13. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 11.73%. 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.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in Abrdn Life Sciences Investors by 5.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 86,110 shares of the company’s stock valued at $1,174,000 after buying an additional 4,100 shares during the period. Matisse Capital increased its holdings in Abrdn Life Sciences Investors by 243.3% in the 1st quarter. Matisse Capital now owns 34,333 shares of the company’s stock valued at $468,000 after buying an additional 24,333 shares during the period. Eudaimonia Partners LLC bought a new stake in Abrdn Life Sciences Investors in the 1st quarter valued at $142,000. Blue Bell Private Wealth Management LLC increased its holdings in Abrdn Life Sciences Investors by 211.1% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 31,494 shares of the company’s stock valued at $429,000 after buying an additional 21,369 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Abrdn Life Sciences Investors by 20.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 158,089 shares of the company’s stock valued at $2,155,000 after purchasing an additional 27,012 shares in the last quarter. Institutional investors own 32.21% of the company’s stock.

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.