abrdn Life Sciences Investors $HQL Shares Sold by AQR Arbitrage LLC

Key Points

• AQR Arbitrage LLC has significantly reduced its holdings in abrdn Life Sciences Investors by 56.4%, now owning 82,193 shares after selling 106,232 shares during the first quarter.
• Multiple institutional investors, including Wealthcare Advisory Partners and Stephens Inc. AR, have recently modified their stakes in the company, indicating a trend of shifting investment interests.
• abrdn Life Sciences Investors declared a quarterly dividend of $0.42 per share, representing an annualized dividend yield of 11.9%, to be paid on September 30th.

AQR Arbitrage LLC cut its position in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 56.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,193 shares of the company's stock after selling 106,232 shares during the period. AQR Arbitrage LLC owned approximately 0.28% of abrdn Life Sciences Investors worth $1,043,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HQL. Stratos Wealth Partners LTD. raised its stake 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 valued at $180,000 after acquiring an additional 971 shares during the period. Kingsview Wealth Management LLC grew its holdings in abrdn Life Sciences Investors by 3.1% during the 1st 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 in the last quarter. Private Advisor Group LLC grew its holdings in abrdn Life Sciences Investors by 5.0% during the 1st 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 in the last quarter. 180 Wealth Advisors LLC grew its holdings in abrdn Life Sciences Investors by 0.9% during the 1st 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 in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in abrdn Life Sciences Investors by 2.2% during the 1st 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 in the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Price Performance

NYSE HQL remained flat at $14.23 on Tuesday. 69,626 shares of the company's stock traded hands, compared to its average volume of 119,503. abrdn Life Sciences Investors has a 12 month low of $10.55 and a 12 month high of $15.68. The firm has a fifty day simple moving average of $13.47 and a 200-day simple moving average of $12.86.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 11.8%.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 14,083 shares of the stock in a transaction 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 completion of the sale, the insider owned 2,968,623 shares in the company, valued at $41,679,466.92. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 48,916 shares of company stock worth $683,459. 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.