abrdn Life Sciences Investors (NYSE:HQL) Sees Large Increase in Short Interest

Key Points

• Short interest surged by 71.7% in March to 32,205 shares (about 0.1% of shares outstanding), with a days-to-cover ratio of roughly 0.2 days.
• abrdn Life Sciences Investors raised its quarterly dividend to $0.56 (from $0.50), representing a $2.24 annualized payout and a 14.0% yield; the dividend is payable March 31 to holders of record February 20 (ex-dividend February 20).
• Shares traded down 3.1% to $16.03 on Friday with 92,000 shares changing hands; the 52-week range is $10.55–$17.80 and the 50/200-day moving averages are $16.74 and $16.49, respectively.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 32,205 shares, a growth of 71.7% from the February 26th total of 18,752 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 133,056 shares, the days-to-cover ratio is presently 0.2 days.

abrdn Life Sciences Investors Stock Down 3.1%

abrdn Life Sciences Investors stock traded down $0.51 during trading hours on Friday, reaching $16.03. 92,000 shares of the stock were exchanged, compared to its average volume of 125,727. abrdn Life Sciences Investors has a 52-week low of $10.55 and a 52-week high of $17.80. The firm's 50 day moving average is $16.74 and its 200 day moving average is $16.49.

abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be issued a dividend of $0.56 per share. This is an increase from abrdn Life Sciences Investors's previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Investors Weigh In On abrdn Life Sciences Investors

A number of institutional investors have recently added to or reduced their stakes in HQL. Shaker Financial Services LLC raised its stake in shares of abrdn Life Sciences Investors by 536.8% during the 3rd quarter. Shaker Financial Services LLC now owns 197,804 shares of the company's stock worth $3,068,000 after buying an additional 166,742 shares in the last quarter. World Investment Advisors purchased a new stake in shares of abrdn Life Sciences Investors in the third quarter valued at approximately $1,440,000. LPL Financial LLC grew its holdings in abrdn Life Sciences Investors by 20.0% during the fourth quarter. LPL Financial LLC now owns 448,846 shares of the company's stock worth $7,532,000 after acquiring an additional 74,787 shares during the period. Wolverine Asset Management LLC grew its holdings in abrdn Life Sciences Investors by 50.8% during the third quarter. Wolverine Asset Management LLC now owns 215,521 shares of the company's stock worth $3,343,000 after acquiring an additional 72,601 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in abrdn Life Sciences Investors in the fourth quarter worth $1,158,000. Hedge funds and other institutional investors own 32.21% of the company's stock.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors NYSE: HQL is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.

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