abrdn Life Sciences Investors $HQL Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in abrdn Life Sciences Investors by 31.1% during the first quarter, owning approximately 1.08% of the company worth $3,966,000.
• abrdn Life Sciences Investors declared a quarterly dividend of $0.42 per share, equating to an annualized yield of 11.7%, with the ex-dividend date set for August 22nd.
• Insider selling includes major shareholder Saba Capital Management, L.P. offloading 14,083 shares worth about $197,725, resulting in a 0.47% decrease in their ownership stake.

Raymond James Financial Inc. grew its holdings in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,531 shares of the company's stock after purchasing an additional 74,061 shares during the period. Raymond James Financial Inc. owned about 1.08% of abrdn Life Sciences Investors worth $3,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stratos Wealth Partners LTD. increased 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 worth $180,000 after purchasing an additional 971 shares during the period. Kingsview Wealth Management LLC increased its stake in abrdn Life Sciences Investors by 3.1% during the first quarter. Kingsview Wealth Management LLC now owns 35,743 shares of the company's stock worth $454,000 after purchasing an additional 1,060 shares during the period. Private Advisor Group LLC increased its stake in abrdn Life Sciences Investors by 5.0% during the first quarter. Private Advisor Group LLC now owns 23,075 shares of the company's stock worth $293,000 after purchasing an additional 1,097 shares during the period. 180 Wealth Advisors LLC increased its stake in abrdn Life Sciences Investors by 0.9% during the first quarter. 180 Wealth Advisors LLC now owns 136,122 shares of the company's stock worth $1,727,000 after purchasing an additional 1,247 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its stake in abrdn Life Sciences Investors by 2.2% during the first quarter. Blue Bell Private Wealth Management LLC now owns 63,569 shares of the company's stock worth $807,000 after purchasing an additional 1,359 shares during the period. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

abrdn Life Sciences Investors Trading Up 1.3%

Shares of NYSE:HQL opened at $14.30 on Friday. The firm's 50-day moving average is $13.44 and its two-hundred day moving average is $12.87. 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. Shareholders of record on Friday, August 22nd will be paid 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 11.7%.

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 company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.04, for a total transaction of $197,725.32. Following the sale, the insider directly owned 2,968,623 shares in the company, valued at approximately $41,679,466.92. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 48,916 shares of company stock worth $683,459 in the last 90 days. 10.06% of the stock is currently owned by corporate insiders.

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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