Abrdn Life Sciences Investors (NYSE:HQL) Shares Sold by Quarry LP

Quarry LP reduced its position in Abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 21.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 145,122 shares of the company's stock after selling 40,392 shares during the period. Quarry LP owned 0.53% of Abrdn Life Sciences Investors worth $1,904,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in Abrdn Life Sciences Investors by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company's stock valued at $395,000 after buying an additional 933 shares during the period. Kapstone Financial Advisors LLC increased its stake in shares of Abrdn Life Sciences Investors by 11.0% during the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company's stock worth $185,000 after acquiring an additional 1,300 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company's stock worth $183,000 after acquiring an additional 1,355 shares during the period. BankPlus Trust Department purchased a new position in Abrdn Life Sciences Investors during the fourth quarter worth about $28,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock valued at $64,000 after purchasing an additional 3,847 shares during the period. 32.21% of the stock is owned by institutional investors and hedge funds.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL stock traded up $0.29 during trading hours on Friday, reaching $12.99. 62,388 shares of the company's stock were exchanged, compared to its average volume of 101,478. Abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.90. The company's 50 day moving average is $12.50 and its two-hundred day moving average is $13.55.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.48%. The ex-dividend date of this dividend was Friday, February 21st.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 42,987 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $13.95, for a total value of $599,668.65. Following the sale, the insider now owns 3,332,473 shares of the company's stock, valued at approximately $46,487,998.35. This represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 253,805 shares of company stock worth $3,231,105 in the last quarter. Company insiders own 10.06% 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.