Absolute Investment Advisers LLC Decreases Stake in abrdn Life Sciences Investors (NYSE:HQL)

Absolute Investment Advisers LLC decreased its position in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 51.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,378 shares of the company's stock after selling 207,148 shares during the period. Absolute Investment Advisers LLC owned 0.67% of abrdn Life Sciences Investors worth $2,441,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its holdings in abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company's stock valued at $64,000 after acquiring an additional 3,847 shares during the period. Raymond James Financial Inc. bought a new position in shares of abrdn Life Sciences Investors in the fourth quarter worth about $3,129,000. Commonwealth Equity Services LLC grew its position in shares of abrdn Life Sciences Investors by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company's stock worth $395,000 after purchasing an additional 933 shares in the last quarter. LPL Financial LLC raised its stake in abrdn Life Sciences Investors by 82.0% during the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company's stock valued at $3,767,000 after purchasing an additional 129,313 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in abrdn Life Sciences Investors during the 4th quarter valued at approximately $154,000. Hedge funds and other institutional investors own 32.21% of the company's stock.

abrdn Life Sciences Investors Stock Up 0.5%

NYSE HQL traded up $0.07 during trading hours on Friday, reaching $13.09. The company's stock had a trading volume of 81,951 shares, compared to its average volume of 107,302. abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.90. The firm's 50-day moving average price is $12.58 and its 200-day moving average price is $12.94.

abrdn Life Sciences Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 13.14%. The ex-dividend date of this dividend was Thursday, May 22nd.

Insider Activity at abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 30,156 shares of the company's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $11.14, for a total transaction of $335,937.84. Following the completion of the transaction, the insider owned 3,094,316 shares in the company, valued at approximately $34,470,680.24. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 92,544 shares of company stock valued at $1,087,994 over the last quarter. 10.06% of the stock is currently owned by insiders.

abrdn Life Sciences Investors 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.