20,416 Shares in abrdn Life Sciences Investors $HQL Bought by Samalin Investment Counsel LLC

Key Points

• Samalin Investment Counsel LLC acquired 20,416 shares of abrdn Life Sciences Investors, valued at approximately $259,000, representing about 0.07% of the company's stock.
• The company announced a quarterly dividend of $0.42 per share, reflecting an annualized yield of 12.2%, with the ex-dividend date on August 22nd.
• Insider Saba Capital Management, L.P. sold 10,710 shares of abrdn Life Sciences Investors, decreasing their ownership by 0.35% to hold 3,006,829 shares.

Samalin Investment Counsel LLC purchased a new position in abrdn Life Sciences Investors (NYSE:HQL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 20,416 shares of the company's stock, valued at approximately $259,000. Samalin Investment Counsel LLC owned about 0.07% of abrdn Life Sciences Investors at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HQL. Allspring Global Investments Holdings LLC grew its holdings in shares of abrdn Life Sciences Investors by 16.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 193,484 shares of the company's stock valued at $2,455,000 after buying an additional 27,433 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in abrdn Life Sciences Investors in the 1st quarter valued at approximately $134,000. Shaker Financial Services LLC bought a new position in abrdn Life Sciences Investors in the 1st quarter valued at approximately $297,000. LPL Financial LLC boosted its stake in abrdn Life Sciences Investors by 14.4% during the 1st quarter. LPL Financial LLC now owns 328,402 shares of the company's stock valued at $4,167,000 after purchasing an additional 41,307 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in abrdn Life Sciences Investors by 36.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock valued at $4,326,000 after purchasing an additional 90,436 shares during the last quarter. Institutional investors own 32.21% of the company's stock.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 10,710 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.07, for a total value of $150,689.70. Following the transaction, the insider directly owned 3,006,829 shares in the company, valued at $42,306,084.03. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.06% of the stock is currently owned by company insiders.

abrdn Life Sciences Investors Price Performance

NYSE:HQL traded up $0.01 during mid-day trading on Friday, reaching $13.92. The company's stock had a trading volume of 100,436 shares, compared to its average volume of 99,241. The firm's fifty day moving average price is $13.30 and its two-hundred day moving average price is $12.87. abrdn Life Sciences Investors has a 12-month low of $10.55 and a 12-month high of $15.68.

abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be issued a $0.42 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.68 annualized dividend and a yield of 12.1%.

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.