Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 26,274 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $13.46 per share, for a total transaction of $353,648.04. Following the completion of the purchase, the insider now directly owns 3,068,730 shares in the company, valued at $41,305,105.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Tuesday, April 30th, Saba Capital Management, L.P. bought 16,573 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.13 per share, with a total value of $217,603.49.
- On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.00 per share, with a total value of $1,563,952.00.
- On Wednesday, April 24th, Saba Capital Management, L.P. bought 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. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $12.88 per share, with a total value of $26,043.36.
- On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $12.80 per share, with a total value of $1,046,246.40.
Abrdn Life Sciences Investors Price Performance
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Shares of NYSE HQL opened at $13.48 on Friday. The stock has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $13.13. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year high of $14.37.
Abrdn Life Sciences Investors Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 11.57%. This is a positive change from Abrdn Life Sciences Investors's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 21st.
Hedge Funds Weigh In On Abrdn Life Sciences Investors
A number of large investors have recently made changes to their positions in HQL. Allspring Global Investments Holdings LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 12.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 347,615 shares of the company's stock worth $4,335,000 after acquiring an additional 38,000 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 5.3% in the third quarter. 180 Wealth Advisors LLC now owns 114,724 shares of the company's stock worth $1,431,000 after acquiring an additional 5,725 shares during the period. Shaker Financial Services LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 2.1% in the third quarter. Shaker Financial Services LLC now owns 66,528 shares of the company's stock worth $830,000 after acquiring an additional 1,342 shares during the period. Private Advisor Group LLC raised its position in shares of Abrdn Life Sciences Investors by 78.9% in the third quarter. Private Advisor Group LLC now owns 35,046 shares of the company's stock worth $435,000 after buying an additional 15,459 shares in the last quarter. Finally, RPO LLC raised its position in shares of Abrdn Life Sciences Investors by 75.7% in the third quarter. RPO LLC now owns 327,042 shares of the company's stock worth $4,078,000 after buying an additional 140,942 shares in the last quarter. 32.21% of the stock is owned by institutional investors.
About Abrdn Life Sciences Investors
(
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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