Short Interest in abrdn Life Sciences Investors (NYSE:HQL) Drops By 53.2%

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 - Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 39,200 shares, adecreaseof53.2% from the July 15th total of 83,800 shares. Approximately0.2% of the shares of the stock are sold short. Based on an average daily volume of 111,500 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 111,500 shares, the days-to-cover ratio is currently 0.4 days. Approximately0.2% of the shares of the stock are sold short.

abrdn Life Sciences Investors Price Performance

Shares of abrdn Life Sciences Investors stock traded down $0.26 during trading on Friday, hitting $13.79. 83,267 shares of the stock traded hands, compared to its average volume of 120,469. The firm's fifty day moving average is $13.17 and its 200-day moving average is $12.88. abrdn Life Sciences Investors has a 52 week low of $10.55 and a 52 week high of $15.68.

abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 12.2%.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of abrdn Life Sciences Investors by 16.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 193,484 shares of the company's stock valued at $2,455,000 after purchasing an additional 27,433 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in abrdn Life Sciences Investors during the 1st quarter worth approximately $134,000. Shaker Financial Services LLC bought a new position in abrdn Life Sciences Investors during the 1st quarter worth approximately $297,000. LPL Financial LLC grew its position in 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 during the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in abrdn Life Sciences Investors by 36.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock worth $4,326,000 after acquiring an additional 90,436 shares during the last quarter. 32.21% of the stock is currently owned by 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.