Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 16,573 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average price of $13.13 per share, for a total transaction of $217,603.49. Following the transaction, the insider now owns 3,042,204 shares of the company's stock, valued at approximately $39,944,138.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.00 per share, with a total value of $1,563,952.00.
- On Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.12 per share, for a total transaction of $269,340.48.
- On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $12.88 per share, with a total value of $26,043.36.
- On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.
Abrdn Life Sciences Investors Stock Performance
HQL traded up $0.22 during midday trading on Wednesday, hitting $13.30. 55,902 shares of the company traded hands, compared to its average volume of 109,978. The business has a 50 day simple moving average of $13.43 and a two-hundred day simple moving average of $13.12. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37.
Abrdn Life Sciences Investors Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Abrdn Life Sciences Investors's previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a yield of 11.73%.
Institutional Investors Weigh In On Abrdn Life Sciences Investors
Several institutional investors have recently bought and sold shares of HQL. Cornerstone Advisors LLC lifted its position in shares of Abrdn Life Sciences Investors by 73.7% in the fourth quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company's stock valued at $6,654,000 after acquiring an additional 209,708 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Abrdn Life Sciences Investors by 30.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company's stock worth $6,113,000 after purchasing an additional 106,539 shares during the last quarter. RPO LLC grew its holdings in shares of Abrdn Life Sciences Investors by 3.5% during the fourth quarter. RPO LLC now owns 338,542 shares of the company's stock worth $4,557,000 after buying an additional 11,500 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Abrdn Life Sciences Investors by 36.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company's stock valued at $4,017,000 after acquiring an additional 86,671 shares in the last quarter. Finally, AQR Arbitrage LLC raised its holdings in Abrdn Life Sciences Investors by 89.8% in the 3rd quarter. AQR Arbitrage LLC now owns 272,496 shares of the company's stock valued at $3,398,000 after acquiring an additional 128,933 shares during the last quarter. 32.21% of the stock is currently owned by institutional investors and hedge funds.
About Abrdn Life Sciences Investors
(
Get Free Report)
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.
Further Reading
Before you consider Abrdn Life Sciences Investors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abrdn Life Sciences Investors wasn't on the list.
While Abrdn Life Sciences Investors currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
