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

Key Points

• abrdn Life Sciences Investors (NYSE:HQL) hit a new 52-week high of $21.32 on Monday, though it later pulled back and finished the session down about 1.2% at $20.02.
• The fund recently paid a quarterly dividend of $0.56 per share, which annualizes to $2.24 and implies a high 11.2% dividend yield.
• Institutional investors have been increasing exposure, with several firms boosting holdings in recent quarters; institutions now own 32.21% of the stock.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $21.32 and last traded at $20.02, with a volume of 155198 shares. The stock had previously closed at $20.28.

abrdn Life Sciences Investors Stock Down 1.2%

The company has a 50 day simple moving average of $18.19 and a two-hundred day simple moving average of $17.35.

abrdn Life Sciences Investors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, May 21st.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in abrdn Life Sciences Investors by 57.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 362,535 shares of the company's stock valued at $5,898,000 after acquiring an additional 132,098 shares during the last quarter. LPL Financial LLC lifted its stake in abrdn Life Sciences Investors by 20.0% in the 4th quarter. LPL Financial LLC now owns 448,846 shares of the company's stock worth $7,532,000 after purchasing an additional 74,787 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of abrdn Life Sciences Investors during the 4th quarter valued at about $1,158,000. Raymond James Financial Inc. boosted its holdings in shares of abrdn Life Sciences Investors by 20.3% during the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company's stock valued at $4,816,000 after purchasing an additional 63,429 shares during the last quarter. Finally, Formidable Asset Management LLC grew its position in shares of abrdn Life Sciences Investors by 63.3% during the fourth quarter. Formidable Asset Management LLC now owns 124,445 shares of the company's stock valued at $1,930,000 after purchasing an additional 48,252 shares in the last quarter. Institutional investors own 32.21% of the company's stock.

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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