abrdn Life Sciences Investors (NYSE:HQL) Hits New 52-Week High - Still a Buy?

Key Points

• abrdn Life Sciences Investors (HQL) hit a new 52-week high of $17.85, last trading around $17.727 and up about 1.3% on the session.
• The fund raised its quarterly dividend to $0.56 (from $0.50), implying a $2.24 annualized payout and a 12.6% yield.
• Several institutional investors (including Royal Bank of Canada, NewEdge, First Trust and Raymond James) boosted positions recently, and institutions now own roughly 32.21% of the stock.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $17.85 and last traded at $17.7270, with a volume of 99199 shares changing hands. The stock had previously closed at $17.49.

abrdn Life Sciences Investors Stock Up 1.3%

The firm's 50 day moving average is $16.68 and its two-hundred day moving average is $16.75.

abrdn Life Sciences Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 20th were paid a $0.56 dividend. This is a boost from abrdn Life Sciences Investors's previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend was Friday, February 20th.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently made changes to their positions in HQL. Royal Bank of Canada boosted its position in abrdn Life Sciences Investors by 53.3% during the first quarter. Royal Bank of Canada now owns 73,475 shares of the company's stock worth $934,000 after purchasing an additional 25,542 shares during the period. NewEdge Advisors LLC boosted its position in abrdn Life Sciences Investors by 43.1% during the first quarter. NewEdge Advisors LLC now owns 32,500 shares of the company's stock worth $412,000 after purchasing an additional 9,785 shares during the period. First Trust Advisors LP boosted its position in abrdn Life Sciences Investors by 112.2% during the second quarter. First Trust Advisors LP now owns 35,321 shares of the company's stock worth $452,000 after purchasing an additional 18,674 shares during the period. Raymond James Financial Inc. boosted its position in abrdn Life Sciences Investors by 20.3% during the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company's stock worth $4,816,000 after purchasing an additional 63,429 shares during the period. Finally, Clough Capital Partners L P bought a new position in abrdn Life Sciences Investors during the second quarter worth $318,000. 32.21% of the stock is owned by institutional investors.

abrdn Life Sciences Investors Company Profile

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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