abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 10,710 Shares

Key Points

• Saba Capital Management, L.P. sold 10,710 shares of abrdn Life Sciences Investors at an average price of $14.07, reducing their ownership by 0.35% to 3,006,829 shares.
• The quarterly dividend declared by abrdn Life Sciences Investors is $0.42 per share, representing an annualized total of $1.68 and a yield of 12.2%.
• The stock has recently seen a trading price decline, dropping 0.5% to $13.7650, with a 52-week range between $10.55 and $15.68.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 10,710 shares of abrdn Life Sciences Investors stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $14.07, for a total value of $150,689.70. Following the sale, the insider owned 3,006,829 shares in the company, valued at $42,306,084.03. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

abrdn Life Sciences Investors Trading Down 0.5%

Shares of NYSE HQL traded down $0.0650 during mid-day trading on Monday, hitting $13.7650. 40,429 shares of the stock traded hands, compared to its average volume of 119,952. abrdn Life Sciences Investors has a 52 week low of $10.55 and a 52 week high of $15.68. The stock has a fifty day moving average price of $13.18 and a 200-day moving average price of $12.86.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Friday, August 22nd.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC lifted its stake in abrdn Life Sciences Investors by 3.0% during the 2nd quarter. Penserra Capital Management LLC now owns 769,657 shares of the company's stock valued at $9,859,000 after acquiring an additional 22,736 shares during the period. Needham Investment Management LLC lifted its stake in abrdn Life Sciences Investors by 7.4% during the 1st quarter. Needham Investment Management LLC now owns 378,654 shares of the company's stock valued at $4,805,000 after acquiring an additional 25,935 shares during the period. Raymond James Financial Inc. lifted its stake in 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 acquiring an additional 63,429 shares during the period. Flagship Harbor Advisors LLC lifted its stake in abrdn Life Sciences Investors by 0.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 341,959 shares of the company's stock valued at $4,380,000 after acquiring an additional 1,082 shares during the period. Finally, LPL Financial LLC lifted its stake in abrdn Life Sciences Investors by 14.4% during the 1st quarter. LPL Financial LLC now owns 328,402 shares of the company's stock valued at $4,167,000 after acquiring an additional 41,307 shares during the period. Institutional investors own 32.21% of the company's stock.

About abrdn Life Sciences Investors

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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