Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 120,304 shares of the firm's stock in a transaction on Friday, April 26th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $1,563,952.00. Following the completion of the purchase, the insider now directly owns 3,025,602 shares of the company's stock, valued at approximately $39,332,826. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.12 per share, with a total value of $269,340.48.
- On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $12.88 per share, for a total transaction of $26,043.36.
- On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $12.80 per share, with a total value of $1,046,246.40.
Abrdn Life Sciences Investors Trading Up 1.0 %
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HQL opened at $13.10 on Tuesday. Abrdn Life Sciences Investors has a 12 month low of $11.34 and a 12 month high of $14.37. The business's 50-day moving average price is $13.45 and its 200-day moving average price is $13.12.
Abrdn Life Sciences Investors Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were given a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.56 annualized dividend and a yield of 11.91%. This is an increase from Abrdn Life Sciences Investors's previous quarterly dividend of $0.30.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Cornerstone Advisors LLC grew its holdings in Abrdn Life Sciences Investors by 73.7% in the 4th quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company's stock worth $6,654,000 after acquiring an additional 209,708 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Abrdn Life Sciences Investors by 30.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company's stock worth $6,113,000 after buying an additional 106,539 shares in the last quarter. RPO LLC boosted its position in Abrdn Life Sciences Investors by 3.5% during the 4th quarter. RPO LLC now owns 338,542 shares of the company's stock valued at $4,557,000 after acquiring an additional 11,500 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of Abrdn Life Sciences Investors by 36.8% during the third quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company's stock valued at $4,017,000 after purchasing an additional 86,671 shares in the last quarter. Finally, AQR Arbitrage LLC grew its stake in Abrdn Life Sciences Investors by 89.8% in the third quarter. AQR Arbitrage LLC now owns 272,496 shares of the company's stock worth $3,398,000 after purchasing an additional 128,933 shares during the period. 32.21% of the stock is owned by hedge funds and other institutional investors.
Abrdn Life Sciences Investors Company Profile
(
Get Free Report)
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.
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