abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 24,328 Shares

Key Points

• Saba Capital Management, L.P. sold 24,328 shares of abrdn Life Sciences Investors at an average price of $13.99, resulting in a total transaction value of $340,348.72, and now owns 2,926,453 shares.
• The company's stock price has decreased by 0.5%, trading at $14.08 with a fifty-two week range of $10.55 to $15.68.
• abrdn Life Sciences Investors announced a quarterly dividend of $0.42 per share, with an annualized yield of 11.9%, set to be paid on September 30th.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 24,328 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $13.99, for a total value of $340,348.72. Following the completion of the sale, the insider directly owned 2,926,453 shares in the company, valued at $40,941,077.47. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Thursday, September 18th, Saba Capital Management, L.P. sold 40,208 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.07, for a total value of $565,726.56.
• On Tuesday, September 16th, Saba Capital Management, L.P. sold 2,026 shares of abrdn Life Sciences Investors stock. The shares were 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 shares were 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 shares were 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 shares were 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 Stock Down 0.5%

Shares of HQL traded down $0.07 during trading hours on Friday, reaching $14.08. 91,758 shares of the company traded hands, compared to its average volume of 118,525. abrdn Life Sciences Investors has a fifty-two week low of $10.55 and a fifty-two week high of $15.68. The stock has a fifty day simple moving average of $13.63 and a 200 day simple moving average of $12.90.

abrdn Life Sciences Investors Cuts Dividend

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

Hedge Funds Weigh In On abrdn Life Sciences Investors

Several large investors have recently added to or reduced their stakes in HQL. Jane Street Group LLC purchased a new position in abrdn Life Sciences Investors during the fourth quarter worth about $290,000. Ameriprise Financial Inc. lifted its position in abrdn Life Sciences Investors by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company's stock worth $1,999,000 after acquiring an additional 10,742 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in abrdn Life Sciences Investors by 0.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 136,122 shares of the company's stock worth $1,727,000 after purchasing an additional 1,247 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in abrdn Life Sciences Investors during the 1st quarter worth approximately $131,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in abrdn Life Sciences Investors during the 1st quarter worth approximately $134,000. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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