Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Acquires 57,862 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 57,862 shares of the business's stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $13.86 per share, for a total transaction of $801,967.32. Following the completion of the acquisition, the insider now directly owns 3,215,825 shares of the company's stock, valued at $44,571,334.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, May 8th, Saba Capital Management, L.P. bought 10,986 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $150,508.20.
• On Monday, May 6th, Saba Capital Management, L.P. purchased 10,713 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $13.62 per share, for a total transaction of $145,911.06.
• On Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $13.46 per share, for a total transaction of $353,648.04.
• On Tuesday, April 30th, Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.13 per share, for a total transaction of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.00 per share, for a total transaction of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were 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. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $12.88 per share, for a total transaction 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 Trading Up 1.2 %

HQL stock traded up $0.16 during trading hours on Tuesday, hitting $14.05. 81,879 shares of the stock traded hands, compared to its average volume of 107,442. The stock has a 50-day simple moving average of $13.40 and a 200 day simple moving average of $13.26. Abrdn Life Sciences Investors has a one year low of $11.34 and a one year high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 13.67%. This is an increase from Abrdn Life Sciences Investors's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, May 22nd.

Institutional Trading of Abrdn Life Sciences Investors

A number of hedge funds have recently bought and sold shares of the company. Cornerstone Advisors LLC grew its stake in 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 purchasing an additional 209,708 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Abrdn Life Sciences Investors by 30.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company's stock valued at $6,113,000 after acquiring an additional 106,539 shares in the last quarter. Karpus Management Inc. acquired a new stake in Abrdn Life Sciences Investors in the first quarter valued at approximately $4,709,000. RPO LLC increased its stake in shares of Abrdn Life Sciences Investors by 3.5% during the 4th quarter. RPO LLC now owns 338,542 shares of the company's stock worth $4,557,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of 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 purchasing an additional 86,671 shares in the last quarter. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.