Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells $179,718.00 in Stock

Abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 15,400 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $11.67, for a total value of $179,718.00. Following the sale, the insider now directly owns 3,078,916 shares in the company, valued at $35,930,949.72. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more 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 Thursday, April 10th, Saba Capital Management, L.P. sold 30,156 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $11.14, for a total transaction of $335,937.84.
• On Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $11.57, for a total transaction of $79,705.73.
• On Wednesday, April 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total transaction of $357,372.56.
• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total transaction of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.01, for a total value of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total value of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.95, for a total transaction of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction of $216,090.61.

Abrdn Life Sciences Investors Price Performance

Shares of NYSE HQL traded up $0.14 during mid-day trading on Friday, hitting $11.80. The stock had a trading volume of 61,175 shares, compared to its average volume of 101,120. The company has a 50 day moving average of $12.78 and a two-hundred day moving average of $13.70. Abrdn Life Sciences Investors has a twelve month low of $10.55 and a twelve month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were issued a $0.47 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 15.93%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC raised its holdings in shares of Abrdn Life Sciences Investors by 11.4% during the third 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 last quarter. Janney Montgomery Scott LLC raised its stake in shares of Abrdn Life Sciences Investors by 7.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company's stock valued at $1,199,000 after buying an additional 6,200 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $160,000. Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter worth about $5,242,000. Finally, Wolverine Asset Management LLC acquired a new stake in Abrdn Life Sciences Investors during the fourth quarter worth about $1,594,000. 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.