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

Key Points

• abrdn Life Sciences Investors (NYSE:HQL) hit a new 52-week high, trading as high as $18.10 (last at $18.1250) on a volume of 68,327 shares and was up about 1.7% during mid-day trading.
• The fund raised its quarterly dividend to $0.56 (from $0.50), implying a $2.24 annualized payout and a yield of about 12.3%, paid to shareholders of record on Feb. 20.
• HQL is a closed-end investment trust focused on biotechnology and life-sciences companies that may employ leverage for long-term capital appreciation, and roughly 32.21% of the stock is held by institutional investors, several of which recently increased their stakes.

Shares of abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.10 and last traded at $18.1250, with a volume of 68327 shares traded. The stock had previously closed at $17.90.

abrdn Life Sciences Investors Trading Up 1.7%

The business has a fifty day moving average price of $16.88 and a 200 day moving average price of $16.93.

abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend was Friday, February 20th. This is a positive change from abrdn Life Sciences Investors's previous quarterly dividend of $0.50.

Institutional Trading of abrdn Life Sciences Investors

A number of institutional investors have recently made changes to their positions in HQL. KPP Advisory Services LLC increased its stake in shares of abrdn Life Sciences Investors by 5.8% during the first quarter. KPP Advisory Services LLC now owns 24,591 shares of the company's stock valued at $400,000 after acquiring an additional 1,354 shares during the period. Geneos Wealth Management Inc. lifted its position in 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 worth $29,000 after purchasing an additional 1,529 shares during the period. NewEdge Advisors LLC boosted its stake in abrdn Life Sciences Investors by 5.2% during the 2nd quarter. NewEdge Advisors LLC now owns 34,190 shares of the company's stock valued at $438,000 after purchasing an additional 1,690 shares in the last quarter. Uhlmann Price Securities LLC boosted its stake in abrdn Life Sciences Investors by 2.3% during the 1st quarter. Uhlmann Price Securities LLC now owns 77,857 shares of the company's stock valued at $1,267,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of abrdn Life Sciences Investors by 2.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 64,828 shares of the company's stock valued at $1,005,000 after purchasing an additional 1,800 shares during the period. 32.21% of the stock is owned by institutional investors and hedge funds.

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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