abrdn Life Sciences Investors $HQL Shares Sold by Rivernorth Capital Management LLC

Key Points

• Rivernorth Capital Management cut its HQL position by 24.5% in the second quarter, selling 48,730 shares and retaining 150,000 shares valued at approximately $3.0 million.
• Other institutional investors generally increased their holdings, including First Trust Advisors, which raised its position by 112.2%, and Raymond James Financial, which increased its stake by 20.3%. Institutions and hedge funds collectively own 32.21% of HQL.
• HQL was trading at $20.98 and recently declared a quarterly dividend of $0.62 per share, equivalent to an annualized $2.48 payout and an 11.8% yield.

Rivernorth Capital Management LLC decreased its holdings in abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company's stock after selling 48,730 shares during the quarter. Rivernorth Capital Management LLC owned approximately 0.49% of abrdn Life Sciences Investors worth $3,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HQL. Royal Bank of Canada raised its holdings in shares of abrdn Life Sciences Investors by 53.3% in the 1st quarter. Royal Bank of Canada now owns 73,475 shares of the company's stock worth $934,000 after purchasing an additional 25,542 shares during the period. NewEdge Advisors LLC increased its position in abrdn Life Sciences Investors by 43.1% during the 1st quarter. NewEdge Advisors LLC now owns 32,500 shares of the company's stock worth $412,000 after purchasing an additional 9,785 shares in the last quarter. First Trust Advisors LP increased its position in abrdn Life Sciences Investors by 112.2% during the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company's stock worth $452,000 after purchasing an additional 18,674 shares in the last quarter. Raymond James Financial Inc. raised its holdings in abrdn Life Sciences Investors by 20.3% in the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company's stock valued at $4,816,000 after buying an additional 63,429 shares during the period. Finally, Clough Capital Partners L P acquired a new position in abrdn Life Sciences Investors during the second quarter valued at approximately $318,000. Institutional investors and hedge funds own 32.21% of the company's stock.

abrdn Life Sciences Investors Trading Up 0.1%

HQL opened at $20.98 on Monday. abrdn Life Sciences Investors has a 52-week low of $13.82 and a 52-week high of $22.67. The company has a 50 day moving average of $20.27 and a two-hundred day moving average of $18.22.

abrdn Life Sciences Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 24th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Monday, August 24th.

abrdn Life Sciences Investors Profile

abrdn Life Sciences Investors NYSE: HQL is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.

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