abrdn Life Sciences Investors (NYSE:HQL) Sees Large Volume Increase – Here’s Why

Shares of abrdn Life Sciences Investors (NYSE:HQL) saw unusually-high trading volume on Friday . Approximately 132,785 shares traded hands during trading, an increase of 10% from the previous session’s volume of 121,058 shares.The stock last traded at $19.2850 and had previously closed at $19.63.

abrdn Life Sciences Investors Stock Down 1.6%

The firm has a fifty day moving average price of $18.50 and a 200 day moving average price of $17.53.

abrdn Life Sciences Investors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend was Thursday, May 21st.

Institutional Trading of abrdn Life Sciences Investors

A number of large investors have recently added to or reduced their stakes in HQL. LPL Financial LLC increased its stake in shares of abrdn Life Sciences Investors by 20.0% during the 4th quarter. LPL Financial LLC now owns 448,846 shares of the company’s stock worth $7,532,000 after purchasing an additional 74,787 shares during the last quarter. Raymond James Financial Inc. lifted its stake in abrdn Life Sciences Investors by 12.5% in the 3rd quarter. Raymond James Financial Inc. now owns 423,031 shares of the company’s stock valued at $6,561,000 after purchasing an additional 47,071 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in abrdn Life Sciences Investors by 1.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 363,381 shares of the company’s stock valued at $6,098,000 after purchasing an additional 6,257 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in abrdn Life Sciences Investors by 57.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 362,535 shares of the company’s stock valued at $5,898,000 after purchasing an additional 132,098 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in abrdn Life Sciences Investors by 24.5% during the third quarter. Ameriprise Financial Inc. now owns 209,681 shares of the company’s stock worth $3,254,000 after purchasing an additional 41,255 shares during the period. Institutional investors and hedge funds own 32.21% of the company’s stock.

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.