Shaker Financial Services LLC Takes $297,000 Position in abrdn Life Sciences Investors (NYSE:HQL)

Key Points

• Shaker Financial Services LLC has acquired a new position in abrdn Life Sciences Investors, purchasing 23,430 shares worth approximately $297,000.
• Other significant investors like LPL Financial LLC and Stifel Financial Corp have also increased their stakes in the company, indicating growing institutional interest.
• abrdn Life Sciences Investors recently paid a quarterly dividend of $0.43 per share, yielding about 13.0% annually.

Shaker Financial Services LLC purchased a new position in shares of abrdn Life Sciences Investors (NYSE:HQL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 23,430 shares of the company's stock, valued at approximately $297,000. Shaker Financial Services LLC owned 0.08% of abrdn Life Sciences Investors at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HQL. Raymond James Financial Inc. acquired a new position in abrdn Life Sciences Investors during the fourth quarter valued at approximately $3,129,000. LPL Financial LLC grew its holdings in abrdn Life Sciences Investors by 82.0% during the fourth 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. Flagship Harbor Advisors LLC grew its holdings in abrdn Life Sciences Investors by 36.1% during the first 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 period. Formidable Asset Management LLC acquired a new position in abrdn Life Sciences Investors during the first quarter valued at approximately $812,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in 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 purchasing an additional 27,433 shares during the period. Institutional investors and hedge funds own 32.21% of the company's stock.

Insider Buying and Selling at abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 23,729 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $12.08, for a total value of $286,646.32. Following the completion of the transaction, the insider owned 3,028,958 shares in the company, valued at $36,589,812.64. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,478 shares of company stock valued at $447,970 in the last ninety days. 10.06% of the stock is owned by corporate insiders.

abrdn Life Sciences Investors Stock Down 0.2%

NYSE HQL traded down $0.03 during trading on Friday, reaching $13.23. 69,322 shares of the stock traded hands, compared to its average volume of 128,881. The stock's 50-day moving average price is $12.98 and its 200 day moving average price is $12.90. abrdn Life Sciences Investors has a fifty-two week low of $10.55 and a fifty-two week high of $15.90.

abrdn Life Sciences Investors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 13.0%. The ex-dividend date was Thursday, May 22nd.

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.