abrdn Life Sciences Investors (NYSE:HQL) Short Interest Down 21.4% in August

Key Points

• Short interest in abrdn Life Sciences Investors decreased by 21.4% in August, with total shares short dropping from 39,200 to 30,800.
• The company announced a quarterly dividend of $0.42 per share, which yields approximately 11.8% annually.
• Institutional investors currently hold 32.21% of the company's stock, with several institutions increasing their stakes during the first quarter.

abrdn Life Sciences Investors (NYSE:HQL - ) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 30,800 shares, adeclineof21.4% from the July 31st total of 39,200 shares. Based on an average trading volume of 105,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 105,500 shares, the days-to-cover ratio is currently 0.3 days.

abrdn Life Sciences Investors Price Performance

NYSE:HQL remained flat at $14.23 during midday trading on Tuesday. The company had a trading volume of 83,353 shares, compared to its average volume of 119,618. abrdn Life Sciences Investors has a twelve month low of $10.55 and a twelve month high of $15.68. The firm has a fifty day moving average of $13.47 and a two-hundred day moving average of $12.86.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend on an annualized basis and a yield of 11.8%.

Insider Buying and Selling at abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 14,083 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.04, for a total transaction of $197,725.32. Following the completion of the transaction, the insider owned 2,968,623 shares in the company, valued at $41,679,466.92. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 48,916 shares of company stock valued at $683,459. 10.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in 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 worth $2,455,000 after acquiring an additional 27,433 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in abrdn Life Sciences Investors during the 1st quarter worth $134,000. Shaker Financial Services LLC acquired a new position in abrdn Life Sciences Investors during the 1st quarter worth $297,000. LPL Financial LLC boosted 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 period. Finally, Flagship Harbor Advisors LLC boosted 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 period. Institutional investors and hedge funds own 32.21% of the company's stock.

About abrdn Life Sciences Investors

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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