Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 15,400 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,400 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $11.67, for a total transaction of $179,718.00. Following the transaction, the insider now owns 3,078,916 shares of the company’s stock, valued at $35,930,949.72. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% 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, April 10th, Saba Capital Management, L.P. sold 30,156 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $11.14, for a total transaction of $335,937.84.
• On Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.57, for a total value of $79,705.73.
• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.28, for a total value of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.58, for a total value of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.01, for a total value of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total transaction of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.95, for a total transaction of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total value of $216,090.61.

Abrdn Life Sciences Investors Stock Down 0.1 %

Shares of NYSE:HQL opened at $11.81 on Wednesday. The business has a fifty day simple moving average of $12.95 and a 200-day simple moving average of $13.78. Abrdn Life Sciences Investors has a 52 week low of $10.55 and a 52 week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 15.93%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC purchased a new stake in Abrdn Life Sciences Investors in the first quarter valued at approximately $131,000. 180 Wealth Advisors LLC grew its stake in shares of Abrdn Life Sciences Investors by 0.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 136,122 shares of the company’s stock valued at $1,727,000 after buying an additional 1,247 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Abrdn Life Sciences Investors by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company’s stock worth $1,999,000 after buying an additional 10,742 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 4th quarter worth $290,000. Finally, Stifel Financial Corp boosted its holdings in Abrdn Life Sciences Investors by 67.1% in the fourth quarter. Stifel Financial Corp now owns 28,341 shares of the company’s stock valued at $372,000 after acquiring an additional 11,378 shares during the last quarter. Institutional investors and hedge funds 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.