abrdn Life Sciences Investors $HQL Holdings Raised by Needham Investment Management LLC

Key Points

• Needham Investment Management LLC has increased its stake in abrdn Life Sciences Investors (NYSE:HQL) by 7.4%, totaling approximately $4.81 million with ownership of 378,654 shares.
• Several other institutional investors, including Wealthcare Advisory Partners and Stephens Inc. AR, have also made recent investments in abrdn Life Sciences Investors, reflecting growing institutional interest in the company.
• The company recently announced a quarterly dividend of $0.42 per share, contributing to an annualized dividend yield of 11.7% for investors.

Needham Investment Management LLC grew its position in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,654 shares of the company's stock after purchasing an additional 25,935 shares during the period. Needham Investment Management LLC owned approximately 1.31% of abrdn Life Sciences Investors worth $4,805,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HQL. Stifel Financial Corp raised its stake in shares of abrdn Life Sciences Investors by 67.1% in the fourth quarter. Stifel Financial Corp now owns 28,341 shares of the company's stock valued at $372,000 after acquiring an additional 11,378 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of abrdn Life Sciences Investors during the fourth quarter worth about $290,000. Ameriprise Financial Inc. grew its holdings in shares of abrdn Life Sciences Investors by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company's stock worth $1,999,000 after buying an additional 10,742 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings 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 buying an additional 1,247 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in abrdn Life Sciences Investors in the first quarter valued at about $131,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Price Performance

HQL traded up $0.01 during trading on Tuesday, reaching $14.24. The company's stock had a trading volume of 97,092 shares, compared to its average volume of 104,828. The company's fifty day moving average price is $13.50 and its 200-day moving average price is $12.86. abrdn Life Sciences Investors has a 52-week low of $10.55 and a 52-week high of $15.68.

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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 11.8%. The ex-dividend date is Friday, August 22nd.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 23,723 shares of abrdn Life Sciences Investors stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $13.89, for a total transaction of $329,512.47. Following the completion of the transaction, the insider directly owned 2,982,706 shares in the company, valued at $41,429,786.34. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 48,916 shares of company stock worth $683,459. Insiders own 10.06% of the company's stock.

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.