abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 70.9% to 100,177 shares as of August 31, representing about 0.4% of HQL’s shares and 0.6 days of average trading volume.
• Institutional investors increased their exposure, with Allspring Global Investments raising its stake by 57.3% and Global Retirement Partners increasing its position by 187.8%; institutions collectively own 32.21% of the fund.
• HQL shares fell 0.7% to $19.26, while the fund announced a quarterly dividend of $0.62 per share, equating to a 12.9% annualized yield.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 100,177 shares, a growth of 70.9% from the August 15th total of 58,626 shares. Based on an average daily trading volume, of 160,266 shares, the short-interest ratio is currently 0.6 days. Approximately 0.4% of the company's shares are sold short.

Hedge Funds Weigh In On abrdn Life Sciences Investors

A number of institutional investors and hedge funds have recently made changes to their positions in HQL. Allspring Global Investments Holdings LLC increased its position in shares of abrdn Life Sciences Investors by 57.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 362,535 shares of the company's stock worth $5,898,000 after acquiring an additional 132,098 shares in the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of abrdn Life Sciences Investors in the fourth quarter worth $498,000. Formidable Asset Management LLC grew its position in shares of abrdn Life Sciences Investors by 27.3% in the first quarter. Formidable Asset Management LLC now owns 158,385 shares of the company's stock valued at $2,658,000 after purchasing an additional 33,940 shares in the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of abrdn Life Sciences Investors during the 1st quarter valued at $582,000. Finally, Global Retirement Partners LLC raised its stake in shares of abrdn Life Sciences Investors by 187.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,039 shares of the company's stock valued at $118,000 after purchasing an additional 4,593 shares during the period. Institutional investors own 32.21% of the company's stock.

abrdn Life Sciences Investors Stock Down 0.7%

abrdn Life Sciences Investors stock traded down $0.13 during mid-day trading on Wednesday, hitting $19.26. 158,948 shares of the stock were exchanged, compared to its average volume of 130,110. abrdn Life Sciences Investors has a 12 month low of $13.90 and a 12 month high of $22.67. The firm's fifty day simple moving average is $20.45 and its two-hundred day simple moving average is $18.51.

abrdn Life Sciences Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 24th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 24th. This represents a $2.48 annualized dividend and a dividend yield of 12.9%.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors NYSE: HQL is a non-diversified, closed-end investment company focused on the global life sciences sector. The fund seeks long-term capital appreciation by investing in companies involved in biotechnology, pharmaceuticals, medical devices, healthcare services and other related industries.

The fund may invest in both publicly traded and privately held companies across various stages of development, including businesses developing innovative therapies, diagnostic technologies and other healthcare products.

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