Raymond James Financial Inc. Invests $3.13 Million in Abrdn Life Sciences Investors (NYSE:HQL)

Raymond James Financial Inc. bought a new position in shares of Abrdn Life Sciences Investors (NYSE:HQL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 238,470 shares of the company's stock, valued at approximately $3,129,000. Raymond James Financial Inc. owned 0.87% of Abrdn Life Sciences Investors as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Absolute Investment Advisers LLC bought a new position in Abrdn Life Sciences Investors in the fourth quarter worth about $5,242,000. Sanctuary Advisors LLC raised its position in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company's stock worth $183,000 after purchasing an additional 1,355 shares during the period. LPL Financial LLC lifted its holdings 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 worth $3,767,000 after purchasing an additional 129,313 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Abrdn Life Sciences Investors during the 4th quarter valued at approximately $1,594,000. Finally, Commonwealth Equity Services LLC grew its stake in Abrdn Life Sciences Investors by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company's stock worth $395,000 after buying an additional 933 shares during the last quarter. 32.21% of the stock is currently owned by institutional investors.

Abrdn Life Sciences Investors Stock Performance

HQL stock traded up $0.30 during mid-day trading on Friday, reaching $13.00. The company had a trading volume of 77,532 shares, compared to its average volume of 101,868. Abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $15.90. The stock's 50-day simple moving average is $12.49 and its two-hundred day simple moving average is $13.53.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 14.46%.

Insider Buying and Selling at Abrdn Life Sciences Investors

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38. Following the sale, the insider now owns 3,379,525 shares of the company's stock, valued at $47,414,735.75. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 253,805 shares of company stock valued at $3,231,105 in the last ninety days. Company insiders own 10.06% of the company's stock.

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.