abrdn Life Sciences Investors $HQL Shares Sold by Quarry LP

Key Points

• Quarry LP reduced its holdings in abrdn Life Sciences Investors by 50.8% in the latest quarter, selling 73,663 shares and retaining 71,459 shares valued at approximately $907,000.
• Insiders, including major shareholder Saba Capital Management, have been active in the market, with Saba selling 10,710 shares at an average price of $14.07.
• The company recently declared a quarterly dividend of $0.42 per share, resulting in an annualized dividend of $1.68 and a dividend yield of 12.1%.

Quarry LP decreased its holdings in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 50.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,459 shares of the company's stock after selling 73,663 shares during the period. Quarry LP owned approximately 0.25% of abrdn Life Sciences Investors worth $907,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its stake in shares of 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 acquiring an additional 971 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of 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 acquiring an additional 1,060 shares during the period. Private Advisor Group LLC increased its stake in shares of 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 acquiring an additional 1,097 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 1,247 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of 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 acquiring an additional 1,359 shares during the period. Institutional investors and hedge funds own 32.21% of the company's stock.

abrdn Life Sciences Investors Stock Down 0.2%

HQL stock traded down $0.03 during trading on Thursday, reaching $14.14. 140,926 shares of the company were exchanged, compared to its average volume of 119,803. abrdn Life Sciences Investors has a 52-week low of $10.55 and a 52-week high of $15.68. The stock's 50 day moving average price is $13.38 and its 200 day moving average price is $12.87.

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 issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 11.9%.

Insider Activity

In other abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 14,083 shares of the company'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 sale, the insider owned 2,968,623 shares of the company's stock, valued at $41,679,466.92. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 48,916 shares of company stock valued at $683,459 over the last quarter. 10.06% of the stock is 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.