abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 6,989 Shares

Key Points

• Saba Capital Management, the major shareholder of abrdn Life Sciences Investors, sold a total of 6,989 shares at an average price of $14.10, resulting in a transaction value of $98,544.90.
• The stock of abrdn Life Sciences Investors has recently seen a 0.24% decrease in ownership by its major shareholder, leaving Saba Capital with approximately 2.88 million shares valued around $40.6 million.
• The company announced a quarterly dividend of $0.42 per share, reflecting an annualized dividend yield of 11.9%, with the dividend payment scheduled for September 30th.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 6,989 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.10, for a total value of $98,544.90. Following the transaction, the insider owned 2,879,256 shares of the company's stock, valued at approximately $40,597,509.60. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Monday, September 22nd, Saba Capital Management, L.P. sold 41,623 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.14, for a total value of $588,549.22.
• 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 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 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 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 abrdn Life Sciences Investors stock traded down $0.01 during trading hours on Tuesday, hitting $14.11. The company's stock had a trading volume of 67,659 shares, compared to its average volume of 118,103. The business has a 50 day moving average price of $13.67 and a two-hundred day moving average price of $12.91. abrdn Life Sciences Investors has a 12-month low of $10.55 and a 12-month high of $15.60.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 11.9%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HQL. Geneos Wealth Management Inc. boosted its holdings in shares of abrdn Life Sciences Investors by 200.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company's stock valued at $29,000 after purchasing an additional 1,529 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of abrdn Life Sciences Investors during the 1st quarter valued at $131,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of abrdn Life Sciences Investors during the 1st quarter valued at $134,000. Wedbush Securities Inc. acquired a new position in shares of abrdn Life Sciences Investors in the 1st quarter valued at $149,000. Finally, Stratos Wealth Partners LTD. increased its position in shares of abrdn Life Sciences Investors by 7.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company's stock valued at $180,000 after acquiring 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.

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