Insider Selling: abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 15,116 Shares of Stock

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 abrdn Life Sciences Investors stock in a transaction that occurred 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 transaction, the insider owned 2,953,507 shares in the company, valued at approximately $42,176,079.96. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 18th, Saba Capital Management, L.P. sold 40,208 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.07, for a total value of $565,726.56.
• On Wednesday, September 17th, Saba Capital Management, L.P. sold 24,328 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.99, for a total value of $340,348.72.
• On Tuesday, September 16th, Saba Capital Management, L.P. sold 2,026 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.99, for a total value of $28,343.74.
• On Monday, September 15th, Saba Capital Management, L.P. sold 700 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.13, for a total value of $9,891.00.
• 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 shares were sold at an average price of $14.07, for a total value of $150,689.70.

abrdn Life Sciences Investors Price Performance

Shares of HQL stock traded down $0.07 on Friday, hitting $14.08. The stock had a trading volume of 91,758 shares, compared to its average volume of 96,679. abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.68. The company's 50 day moving average price is $13.65 and its 200-day moving average price is $12.91.

abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Friday, August 22nd.

Institutional Investors Weigh In On abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently modified their holdings of HQL. Geneos Wealth Management Inc. raised its holdings 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 period. Wealthcare Advisory Partners LLC acquired a new position in abrdn Life Sciences Investors during the 1st quarter worth $131,000. Cambridge Investment Research Advisors Inc. acquired a new position in abrdn Life Sciences Investors during the 1st quarter worth $134,000. Wedbush Securities Inc. acquired a new position in abrdn Life Sciences Investors during the 1st quarter worth $149,000. Finally, Stratos Wealth Partners LTD. grew its stake 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 in 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.