Short Interest in abrdn Life Sciences Investors (NYSE:HQL) Declines By 21.4%

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 - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totaling 30,800 shares, a decrease of 21.4% from the July 31st total of 39,200 shares. Based on an average daily trading volume, of 105,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 105,500 shares, the days-to-cover ratio is currently 0.3 days.

abrdn Life Sciences Investors Price Performance

Shares of HQL stock traded down $0.13 during mid-day trading on Friday, hitting $14.15. 88,961 shares of the company's stock were exchanged, compared to its average volume of 105,593. abrdn Life Sciences Investors has a fifty-two week low of $10.55 and a fifty-two week high of $15.68. The stock has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $12.88.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be issued 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 11.9%.

Insider Buying and Selling

In other abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 14,083 shares of the stock in a transaction 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 sale, the insider owned 2,968,623 shares in the company, valued at approximately $41,679,466.92. This represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 48,916 shares of company stock worth $683,459. 10.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On abrdn Life Sciences Investors

Several hedge funds have recently made changes to their positions in HQL. Geneos Wealth Management Inc. boosted its holdings in shares of abrdn Life Sciences Investors by 200.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company's stock worth $29,000 after purchasing an additional 1,529 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth $131,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth $134,000. Wedbush Securities Inc. purchased a new position in shares of abrdn Life Sciences Investors in the 1st quarter worth $149,000. Finally, Stratos Wealth Partners LTD. raised its position 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 buying an additional 971 shares during the period. 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.