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

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 the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.07, for a total transaction of $150,689.70. Following the completion of the transaction, the insider directly owned 3,006,829 shares of the company's stock, valued at $42,306,084.03. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, August 26th, Saba Capital Management, L.P. sold 400 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.83, for a total transaction of $5,532.00.

abrdn Life Sciences Investors Trading Up 0.1%

Shares of NYSE HQL traded up $0.01 during mid-day trading on Friday, hitting $13.92. 100,436 shares of the stock traded hands, compared to its average volume of 99,241. abrdn Life Sciences Investors has a twelve month low of $10.55 and a twelve month high of $15.68. The firm has a 50 day simple moving average of $13.30 and a two-hundred day simple moving average of $12.87.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 12.1%. The ex-dividend date is Friday, August 22nd.

Institutional Trading of abrdn Life Sciences Investors

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in shares of abrdn Life Sciences Investors by 200.1% in the 2nd 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 during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in abrdn Life Sciences Investors in the first quarter valued at approximately $131,000. Cambridge Investment Research Advisors Inc. bought a new stake in abrdn Life Sciences Investors in the first quarter valued at approximately $134,000. Wedbush Securities Inc. bought a new position in abrdn Life Sciences Investors during the 1st quarter worth approximately $149,000. Finally, Stratos Wealth Partners LTD. raised its holdings in abrdn Life Sciences Investors by 7.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company's stock worth $180,000 after purchasing an additional 971 shares during the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Company Profile

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.