abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $28,343.74 in Stock

Key Points

• Saba Capital Management, a major shareholder of abrdn Life Sciences Investors (NYSE:HQL), sold 2,026 shares of the company at an average price of $13.99, reducing their ownership to approximately 2,950,781 shares valued at $41.28 million.
• abrdn Life Sciences Investors declared a quarterly dividend of $0.42 per share, with an annualized yield of 11.9%, payable on September 30th.
• The stock price of abrdn Life Sciences Investors has seen an uptick of 0.9%, currently trading at $14.06, showing a significant improvement from its 52-week low of $10.55.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 2,026 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $13.99, for a total value of $28,343.74. Following the completion of the sale, the insider directly owned 2,950,781 shares of the company's stock, valued at $41,281,426.19. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 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 Thursday, September 11th, Saba Capital Management, L.P. sold 15,116 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.28, for a total value of $215,856.48.
• 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 shares were 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 shares were 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

NYSE:HQL traded down $0.07 during trading hours on Friday, hitting $14.08. 91,758 shares of the company's stock traded hands, compared to its average volume of 96,679. abrdn Life Sciences Investors has a 52 week low of $10.55 and a 52 week high of $15.68. The business's fifty day simple moving average is $13.65 and its two-hundred day simple moving average is $12.90.

abrdn Life Sciences Investors Cuts Dividend

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

Institutional Investors Weigh In On abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in abrdn Life Sciences Investors by 200.1% during 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 last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of abrdn Life Sciences Investors in the 1st quarter valued at about $131,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of abrdn Life Sciences Investors in the 1st quarter valued at about $134,000. Wedbush Securities Inc. bought a new stake in shares of abrdn Life Sciences Investors in the 1st quarter valued at about $149,000. Finally, Stratos Wealth Partners LTD. increased 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 valued at $180,000 after purchasing an additional 971 shares during the period. Institutional investors own 32.21% of the company's stock.

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.