Insider Selling: abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 40,208 Shares of Stock

Key Points

• Saba Capital Management, L.P. sold 40,208 shares of abrdn Life Sciences Investors for a total of $565,726.56, marking a 1.37% decrease in their position.
• The stock is currently trading at $14.08 with a 1-year low of $10.55 and a high of $15.68.
• A quarterly dividend of $0.42 will be paid on September 30th, reflecting an annualized dividend yield of 11.9%.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 40,208 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $14.07, for a total value of $565,726.56. Following the sale, the insider directly owned 2,886,245 shares of the company's stock, valued at $40,609,467.15. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% 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 Wednesday, September 17th, Saba Capital Management, L.P. sold 24,328 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.99, for a total transaction 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 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $150,689.70.

abrdn Life Sciences Investors Stock Up 0.4%

Shares of NYSE HQL traded up $0.06 during mid-day trading on Monday, hitting $14.14. The company had a trading volume of 95,885 shares, compared to its average volume of 97,103. The business's 50-day simple moving average is $13.67 and its 200 day simple moving average is $12.91. abrdn Life Sciences Investors has a 1-year low of $10.55 and a 1-year high of $15.60.

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 paid 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 Trading of abrdn Life Sciences Investors

Large investors have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in abrdn Life Sciences Investors by 3.0% in the second quarter. Penserra Capital Management LLC now owns 769,657 shares of the company's stock worth $9,859,000 after acquiring an additional 22,736 shares during the last quarter. Needham Investment Management LLC raised its stake in abrdn Life Sciences Investors by 7.4% in the first quarter. Needham Investment Management LLC now owns 378,654 shares of the company's stock valued at $4,805,000 after buying an additional 25,935 shares in the last quarter. Raymond James Financial Inc. raised its stake in abrdn Life Sciences Investors by 20.3% in the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company's stock valued at $4,816,000 after buying an additional 63,429 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in abrdn Life Sciences Investors by 0.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 341,959 shares of the company's stock worth $4,380,000 after buying an additional 1,082 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of abrdn Life Sciences Investors by 14.4% during the 1st quarter. LPL Financial LLC now owns 328,402 shares of the company's stock worth $4,167,000 after acquiring an additional 41,307 shares in the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

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.