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

Key Points

• Short interest in abrdn Life Sciences Investors saw a significant increase of 151.3% in August, totaling 77,400 shares sold short, which represents approximately 0.3% of the company's total shares.
• The company announced a quarterly dividend of $0.42 per share, translating to an annualized total of $1.68 with a yield of 11.9%.
• Institutional investors have been actively buying and modifying their positions, with Geneos Wealth Management increasing its stake by 200.1% in the second quarter.

abrdn Life Sciences Investors (NYSE:HQL - ) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 77,400 shares, an increase of 151.3% from the August 15th total of 30,800 shares. Based on an average daily volume of 109,100 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the company's shares are sold short. Approximately 0.3% of the company's shares are sold short. Based on an average daily volume of 109,100 shares, the short-interest ratio is presently 0.7 days.

abrdn Life Sciences Investors Trading Down 0.9%

Shares of NYSE:HQL traded down $0.13 on Friday, hitting $14.15. The company had a trading volume of 88,961 shares, compared to its average volume of 105,593. The firm's 50-day simple moving average is $13.56 and its two-hundred day simple moving average is $12.88. abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.68.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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.

Insider Activity at abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 14,083 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $14.04, for a total value of $197,725.32. Following the completion of the sale, the insider directly owned 2,968,623 shares of the company's stock, valued at approximately $41,679,466.92. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 48,916 shares of company stock valued at $683,459. Company insiders own 10.06% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of abrdn Life Sciences Investors by 200.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company's stock worth $29,000 after acquiring an additional 1,529 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth about $131,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth about $134,000. Wedbush Securities Inc. bought a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth about $149,000. Finally, Stratos Wealth Partners LTD. increased its stake in shares of abrdn Life Sciences Investors by 7.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 14,176 shares of the company's stock worth $180,000 after acquiring an additional 971 shares in 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.

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