abrdn Life Sciences Investors (NYSE:HQL) Declares Quarterly Dividend of $0.42

Key Points

• abrdn Life Sciences Investors (NYSE:HQL) has declared a quarterly dividend of $0.42 per share, with a yield of 12.6%, payable on September 30th to shareholders of record on August 22nd.
• The stock is currently trading at $13.38, showing an increase of 1.3%, with a 52-week range between $10.55 and $15.90.
• Recent insider activity includes major shareholder Saba Capital Management selling 23,729 shares, reducing their ownership stake by 0.78%.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) declared a quarterly dividend on Tuesday, August 12th, Wall Street Journal reports. Shareholders of record on Friday, August 22nd will be paid a dividend of 0.42 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Friday, August 22nd.

abrdn Life Sciences Investors Trading Up 1.3%

HQL stock traded up $0.18 during midday trading on Tuesday, reaching $13.38. 51,628 shares of the company's stock traded hands, compared to its average volume of 120,575. abrdn Life Sciences Investors has a fifty-two week low of $10.55 and a fifty-two week high of $15.90. The business has a 50-day moving average price of $13.00 and a two-hundred day moving average price of $12.88.

Insiders Place Their Bets

In other abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 23,729 shares of abrdn Life Sciences Investors stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $12.08, for a total transaction of $286,646.32. Following the transaction, the insider directly owned 3,028,958 shares of the company's stock, valued at $36,589,812.64. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 35,748 shares of company stock worth $439,006 over the last 90 days. Insiders own 10.06% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC acquired a new position in abrdn Life Sciences Investors during the first quarter valued at approximately $131,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of abrdn Life Sciences Investors during the first quarter valued at approximately $134,000. Wedbush Securities Inc. purchased a new stake in shares of abrdn Life Sciences Investors during the first quarter valued at approximately $149,000. Stratos Wealth Partners LTD. raised its stake in shares of abrdn Life Sciences Investors by 7.4% during the first quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company's stock valued at $180,000 after purchasing an additional 971 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in shares of abrdn Life Sciences Investors in the fourth quarter worth $211,000. 32.21% of the stock is owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Company Profile

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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