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

Shaker Financial Services LLC purchased a new stake in abrdn Life Sciences Investors (NYSE:HQL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in HQL. LPL Financial LLC lifted its stake in shares of abrdn Life Sciences Investors by 82.0% in the 4th 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. Landscape Capital Management L.L.C. acquired a new position in shares of abrdn Life Sciences Investors in the 4th quarter valued at $154,000. Raymond James Financial Inc. acquired a new position in shares of abrdn Life Sciences Investors in the 4th quarter valued at $3,129,000. Guggenheim Capital LLC acquired a new position in shares of abrdn Life Sciences Investors in the 4th quarter valued at $211,000. Finally, Stifel Financial Corp lifted its stake in shares of abrdn Life Sciences Investors by 67.1% in the 4th quarter. Stifel Financial Corp now owns 28,341 shares of the company's stock valued at $372,000 after purchasing an additional 11,378 shares during the period. Institutional investors and hedge funds own 32.21% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 11,419 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $12.71, for a total transaction of $145,135.49. Following the sale, the insider owned 3,017,539 shares of the company's stock, valued at approximately $38,352,920.69. This trade represents a 0.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 36,478 shares of company stock worth $447,970. Company insiders own 10.06% of the company's stock.

abrdn Life Sciences Investors Stock Down 1.0%

Shares of abrdn Life Sciences Investors stock opened at $13.19 on Wednesday. abrdn Life Sciences Investors has a 12 month low of $10.55 and a 12 month high of $15.90. The stock's fifty day simple moving average is $12.93 and its 200 day simple moving average is $12.90.

abrdn Life Sciences Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 22nd were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend was Thursday, May 22nd.

abrdn Life Sciences Investors Company 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.

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