abrdn Life Sciences Investors (NYSE:HQL) Sees Large Increase in Short Interest

Key Points

• Short interest surged 70.8% in October to 192,658 shares, representing approximately 0.7% of HQL’s outstanding shares and 1.4 days of average trading volume.
• Institutional ownership activity was mixed, with several investors initiating positions or increasing holdings; hedge funds and other institutions now own 32.21% of the stock.
• HQL opened at $18.42, near its 200-day moving average of $18.23, while its quarterly dividend of $0.62 per share implies an annualized 13.5% yield.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 192,658 shares, an increase of 70.8% from the September 30th total of 112,812 shares. Approximately 0.7% of the company's shares are sold short. Based on an average daily trading volume, of 139,589 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On abrdn Life Sciences Investors

Several institutional investors have recently made changes to their positions in HQL. City of London Investment Management Co. Ltd. purchased a new position in abrdn Life Sciences Investors in the third quarter valued at approximately $1,363,000. Provenance Wealth Advisors LLC purchased a new stake in abrdn Life Sciences Investors in the 3rd quarter worth about $66,000. Blue Bell Private Wealth Management LLC raised its stake in shares of abrdn Life Sciences Investors by 13.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 105,642 shares of the company's stock worth $1,976,000 after purchasing an additional 12,743 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in abrdn Life Sciences Investors during the third quarter worth $242,000. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of abrdn Life Sciences Investors by 4.1% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 417,366 shares of the company's stock worth $7,805,000 after buying an additional 16,601 shares during the period. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

abrdn Life Sciences Investors Trading Down 0.1%

abrdn Life Sciences Investors stock opened at $18.42 on Monday. The firm's 50 day moving average price is $19.09 and its 200-day moving average price is $18.23. abrdn Life Sciences Investors has a 1 year low of $15.66 and a 1 year high of $22.67.

abrdn Life Sciences Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were issued a dividend of $0.62 per share. The ex-dividend date was Monday, August 24th. This represents a $2.48 dividend on an annualized basis and a yield of 13.5%.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol HQL. The fund seeks long-term capital appreciation by investing in companies involved in the life sciences industry.

Its portfolio may include businesses across biotechnology, pharmaceuticals, medical devices, diagnostics, healthcare services and related fields. The fund can invest in both publicly traded and privately held companies, providing shareholders with diversified exposure to innovative healthcare and life sciences businesses.

The fund was formerly known as Tekla Life Sciences Investors and adopted the abrdn name following the integration of Tekla's investment management activities into abrdn.

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