abrdn Life Sciences Investors $HQL Shares Sold by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC trimmed its holdings in shares of abrdn Life Sciences Investors (NYSE:HQL) by 24.5% during the second quarter, Holdings Channel reports. The firm owned 150,000 shares of the company’s stock after selling 48,730 shares during the quarter. Rivernorth Capital Management LLC’s holdings in abrdn Life Sciences Investors were worth $3,002,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. grew its stake in abrdn Life Sciences Investors by 200.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock worth $29,000 after buying an additional 1,529 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of abrdn Life Sciences Investors by 187.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock worth $118,000 after acquiring an additional 4,593 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of abrdn Life Sciences Investors in the 4th quarter worth about $177,000. Evolve Private Wealth LLC bought a new stake in abrdn Life Sciences Investors in the 4th quarter valued at about $199,000. Finally, Independent Financial Group LLC acquired a new position in abrdn Life Sciences Investors during the 1st quarter valued at about $211,000. 32.21% of the stock is owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Stock Up 0.1%

HQL opened at $20.98 on Monday. The business’s 50 day moving average is $20.27 and its 200-day moving average is $18.22. abrdn Life Sciences Investors has a twelve month low of $13.82 and a twelve month high of $22.67.

abrdn Life Sciences Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th will be given a $0.62 dividend. The ex-dividend date is Monday, August 24th. This represents a $2.48 dividend on an annualized basis and a yield of 11.8%.

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.