abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 15,116 Shares

Key Points

• Saba Capital Management, L.P. sold 15,116 shares of abrdn Life Sciences Investors at $14.28 each, resulting in a total transaction value of $215,856.48, reducing their ownership stake by 0.51%.
• The stock price has experienced a decline of 1.3%, trading at $13.98, while also showing a yearly range from a low of $10.55 to a high of $15.68.
• abrdn Life Sciences Investors recently cut its dividend to $0.42 per share, with an annualized yield of 12.0%, impacting previous dividend expectations.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 15,116 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.28, for a total value of $215,856.48. Following the sale, the insider directly owned 2,953,507 shares in the company, valued at $42,176,079.96. This represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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, September 2nd, Saba Capital Management, L.P. sold 14,083 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.04, for a total value of $197,725.32.
• On Friday, August 29th, Saba Capital Management, L.P. sold 23,723 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.89, for a total value of $329,512.47.
• 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 value of $5,532.00.
• On Thursday, August 21st, Saba Capital Management, L.P. sold 10,710 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.07, for a total value of $150,689.70.

abrdn Life Sciences Investors Stock Down 1.3%

Shares of abrdn Life Sciences Investors stock traded down $0.19 during trading hours on Monday, reaching $13.98. 97,880 shares of the company were exchanged, compared to its average volume of 103,044. abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.68. The stock's fifty day moving average is $13.58 and its 200 day moving average is $12.88.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.0%.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Several large investors have recently bought and sold shares of HQL. Flagship Harbor Advisors LLC increased its holdings in abrdn Life Sciences Investors by 36.1% in the first quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock valued at $4,326,000 after buying an additional 90,436 shares during the last quarter. Raymond James Financial Inc. increased its holdings in abrdn Life Sciences Investors by 31.1% in the first quarter. Raymond James Financial Inc. now owns 312,531 shares of the company's stock valued at $3,966,000 after buying an additional 74,061 shares during the last quarter. Formidable Asset Management LLC purchased a new position in abrdn Life Sciences Investors in the first quarter valued at $812,000. Allspring Global Investments Holdings LLC increased its holdings in abrdn Life Sciences Investors by 21.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 235,499 shares of the company's stock valued at $3,017,000 after buying an additional 42,015 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in abrdn Life Sciences Investors by 14.4% in the first quarter. LPL Financial LLC now owns 328,402 shares of the company's stock valued at $4,167,000 after buying an additional 41,307 shares during the last quarter. Hedge funds and other 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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