Saba Capital Management L.P. Sells 1,169,828 Shares of abrdn Life Sciences Investors $HQL

Key Points

• Saba Capital Management cut its HQL position by 55.3% in the first quarter, selling 1,169,828 shares and retaining 947,346 shares worth approximately $15.4 million.
• Other institutional investors generally increased their holdings, while institutional ownership of abrdn Life Sciences Investors stood at 32.21%.
• HQL traded at $19.37, up 0.6%, and recently paid a quarterly dividend of $0.56, equivalent to an annualized $2.24 payout and an 11.6% yield.

Saba Capital Management L.P. decreased its position in abrdn Life Sciences Investors (NYSE:HQL - Free Report) by 55.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 947,346 shares of the company's stock after selling 1,169,828 shares during the quarter. Saba Capital Management L.P. owned 3.12% of abrdn Life Sciences Investors worth $15,413,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HQL. LPL Financial LLC boosted its position in shares of abrdn Life Sciences Investors by 20.0% during the fourth quarter. LPL Financial LLC now owns 448,846 shares of the company's stock worth $7,532,000 after buying an additional 74,787 shares during the period. Raymond James Financial Inc. raised its position in abrdn Life Sciences Investors by 12.5% in the 3rd quarter. Raymond James Financial Inc. now owns 423,031 shares of the company's stock valued at $6,561,000 after buying an additional 47,071 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in abrdn Life Sciences Investors by 1.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 363,381 shares of the company's stock valued at $6,098,000 after buying an additional 6,257 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in abrdn Life Sciences Investors by 57.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 362,535 shares of the company's stock valued at $5,898,000 after acquiring an additional 132,098 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in abrdn Life Sciences Investors by 24.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 209,681 shares of the company's stock valued at $3,254,000 after acquiring an additional 41,255 shares in the last quarter. 32.21% of the stock is currently owned by institutional investors.

abrdn Life Sciences Investors Stock Up 0.6%

NYSE:HQL opened at $19.37 on Tuesday. abrdn Life Sciences Investors has a twelve month low of $13.01 and a twelve month high of $21.32. The business has a 50 day moving average price of $18.57 and a two-hundred day moving average price of $17.57.

abrdn Life Sciences Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date of this dividend was Thursday, May 21st.

About abrdn Life Sciences Investors

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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