abrdn Life Sciences Investors (NYSE:HQL) Sets New 52-Week High After Dividend Announcement

Shares of abrdn Life Sciences Investors (NYSE:HQL) reached a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as $18.46 and last traded at $18.14, with a volume of 115552 shares changing hands. The stock had previously closed at $18.19.

The newly announced dividend which will be paid on Saturday, May 30th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.56 per share. The ex-dividend date is Thursday, May 21st. This represents a $2.24 dividend on an annualized basis and a yield of 12.3%.

abrdn Life Sciences Investors Stock Performance

The stock’s 50 day simple moving average is $16.98 and its 200-day simple moving average is $16.98.

Institutional Trading of abrdn Life Sciences Investors

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of abrdn Life Sciences Investors by 53.3% during the 1st quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock worth $934,000 after acquiring an additional 25,542 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of abrdn Life Sciences Investors by 43.1% during the first quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock worth $412,000 after purchasing an additional 9,785 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of abrdn Life Sciences Investors by 112.2% in the second quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock worth $452,000 after buying an additional 18,674 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of abrdn Life Sciences Investors by 20.3% in the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock worth $4,816,000 after buying an additional 63,429 shares in the last quarter. Finally, Clough Capital Partners L P purchased a new position in shares of abrdn Life Sciences Investors in the second quarter worth about $318,000. 32.21% of the stock is owned by hedge funds and other institutional investors.

About abrdn Life Sciences Investors

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.