abrdn Life Sciences Investors (NYSE:HQL) Hits New 12-Month High - Here's What Happened

Key Points

• abrdn Life Sciences Investors reached a new 52-week high, trading as high as $21.72 and closing its session around $21.659, up 1.4% from the prior close.
• The fund announced a quarterly dividend of $0.62 per share, equal to $2.48 annually and an 11.5% yield; shareholders of record on August 24 will receive payment on September 30.
• Institutional ownership stands at 32.21%, with several investment firms increasing their positions. HQL invests in public and private life-sciences companies spanning biotechnology, pharmaceuticals, medical devices and healthcare technology.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.72 and last traded at $21.6590, with a volume of 172085 shares trading hands. The stock had previously closed at $21.37.

abrdn Life Sciences Investors Trading Up 1.4%

The stock's 50-day simple moving average is $19.55 and its two-hundred day simple moving average is $17.95.

abrdn Life Sciences Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 11.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KPP Advisory Services LLC boosted its stake in shares of abrdn Life Sciences Investors by 2.7% during the second quarter. KPP Advisory Services LLC now owns 25,251 shares of the company's stock worth $505,000 after buying an additional 660 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of abrdn Life Sciences Investors by 200.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company's stock valued at $29,000 after buying an additional 1,529 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of abrdn Life Sciences Investors by 5.2% during the 2nd quarter. NewEdge Advisors LLC now owns 34,190 shares of the company's stock worth $438,000 after purchasing an additional 1,690 shares in the last quarter. Uhlmann Price Securities LLC boosted its holdings in abrdn Life Sciences Investors by 2.3% during the first quarter. Uhlmann Price Securities LLC now owns 77,857 shares of the company's stock worth $1,267,000 after buying an additional 1,719 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of abrdn Life Sciences Investors by 4.0% during the 4th quarter. First Trust Advisors LP now owns 48,770 shares of the company's stock worth $818,000 after acquiring an additional 1,880 shares in the last quarter. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.

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