Abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Increase in Short Interest

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 111,800 shares, an increase of 46.5% from the March 31st total of 76,300 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 132,500 shares, the short-interest ratio is currently 0.8 days.

Abrdn Life Sciences Investors Stock Down 0.8 %

HQL stock opened at $12.73 on Friday. The company has a 50-day simple moving average of $12.50 and a 200 day simple moving average of $13.55. Abrdn Life Sciences Investors has a fifty-two week low of $10.55 and a fifty-two week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 14.77%. The ex-dividend date of this dividend was Friday, February 21st.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 1,846 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $14.03, for a total value of $25,899.38. Following the completion of the transaction, the insider now owns 3,379,525 shares of the company's stock, valued at approximately $47,414,735.75. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 253,805 shares of company stock worth $3,231,105. Insiders own 10.06% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HQL. Stephens Inc. AR boosted its stake in Abrdn Life Sciences Investors by 56.1% during the 1st quarter. Stephens Inc. AR now owns 19,336 shares of the company's stock valued at $245,000 after purchasing an additional 6,947 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Abrdn Life Sciences Investors by 7.4% during the first quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company's stock valued at $180,000 after buying an additional 971 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Abrdn Life Sciences Investors by 16.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 193,484 shares of the company's stock worth $2,455,000 after acquiring an additional 27,433 shares during the period. Oppenheimer & Co. Inc. raised its position in Abrdn Life Sciences Investors by 46.5% in the first quarter. Oppenheimer & Co. Inc. now owns 28,713 shares of the company's stock worth $364,000 after acquiring an additional 9,115 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Abrdn Life Sciences Investors by 36.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock valued at $4,326,000 after acquiring an additional 90,436 shares during the last quarter. 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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