abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Drop in Short Interest

Key Points

• abrdn Life Sciences Investors (NYSE:HQL) experienced a significant drop in short interest, decreasing by 53.2% from July 15th to July 31st, totaling 39,200 shares.
• The company announced a quarterly dividend of $0.42, resulting in a 12.2% annualized yield, with payments scheduled for September 30th.
• Among institutional investors, Clough Capital Partners made a new investment valued at approximately $318,000, while Raymond James Financial increased its stake by 20.3% in the second quarter.

abrdn Life Sciences Investors (NYSE:HQL - ) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 39,200 shares, adropof53.2% from the July 15th total of 83,800 shares. Based on an average daily volume of 111,500 shares, the short-interest ratio is currently 0.4 days. Currently,0.2% of the shares of the company are short sold. Currently,0.2% of the shares of the company are short sold. Based on an average daily volume of 111,500 shares, the short-interest ratio is currently 0.4 days.

abrdn Life Sciences Investors Stock Performance

Shares of HQL stock traded up $0.17 during trading on Friday, hitting $13.82. 139,951 shares of the company were exchanged, compared to its average volume of 117,820. The business's 50-day simple moving average is $13.08 and its 200 day simple moving average is $12.87. abrdn Life Sciences Investors has a twelve month low of $10.55 and a twelve month high of $15.90.

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. The ex-dividend date is Friday, August 22nd. This represents a $1.68 annualized dividend and a dividend yield of 12.2%.

Insider Transactions at abrdn Life Sciences Investors

In other abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 11,419 shares of abrdn Life Sciences Investors stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $12.71, for a total transaction of $145,135.49. Following the completion of the transaction, the insider owned 3,017,539 shares in the company, valued at approximately $38,352,920.69. The trade was a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.06% of the company's stock.

Institutional Investors Weigh In On abrdn Life Sciences Investors

Institutional investors have recently bought and sold shares of the business. Clough Capital Partners L P bought a new position in shares of abrdn Life Sciences Investors in the second quarter valued at about $318,000. Raymond James Financial Inc. increased its stake in shares of abrdn Life Sciences Investors by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company's stock valued at $4,816,000 after acquiring an additional 63,429 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of abrdn Life Sciences Investors by 5.2% in the 2nd quarter. NewEdge Advisors LLC now owns 34,190 shares of the company's stock valued at $438,000 after acquiring an additional 1,690 shares during the last quarter. First Trust Advisors LP grew its position in shares of abrdn Life Sciences Investors by 112.2% in the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company's stock valued at $452,000 after purchasing an additional 18,674 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of abrdn Life Sciences Investors by 0.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 160,173 shares of the company's stock valued at $2,052,000 after purchasing an additional 1,487 shares during the period. Institutional investors and hedge funds 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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