Insider Selling: abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 23,723 Shares of Stock

Key Points

• Saba Capital Management sold 23,723 shares of abrdn Life Sciences Investors (NYSE:HQL) for a total of $329,512.47, reducing its ownership stake by 0.79%.
• abrdn Life Sciences Investors recently declared a quarterly dividend of $0.42 with a dividend yield of 12.0%, to be paid on September 30th.
• The stock price of abrdn Life Sciences Investors has shown fluctuations, with a 1-year high of $15.68 and a 1-year low of $10.55.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 23,723 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $13.89, for a total value of $329,512.47. Following the completion of the sale, the insider directly owned 2,982,706 shares in the company, valued at $41,429,786.34. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Tuesday, September 2nd, Saba Capital Management, L.P. sold 14,083 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.04, for a total value of $197,725.32.
• On Tuesday, August 26th, Saba Capital Management, L.P. sold 400 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.83, for a total transaction of $5,532.00.
• On Thursday, August 21st, Saba Capital Management, L.P. sold 10,710 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.07, for a total transaction of $150,689.70.

abrdn Life Sciences Investors Trading Up 1.3%

NYSE:HQL traded up $0.19 during trading hours on Friday, reaching $14.30. 117,892 shares of the company's stock were exchanged, compared to its average volume of 101,085. abrdn Life Sciences Investors has a 12 month low of $10.55 and a 12 month high of $15.68. The business's 50-day simple moving average is $13.44 and its two-hundred day simple moving average is $12.87.

abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Friday, August 22nd.

Institutional Trading of abrdn Life Sciences Investors

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in abrdn Life Sciences Investors by 16.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 193,484 shares of the company's stock worth $2,455,000 after buying an additional 27,433 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in abrdn Life Sciences Investors during the 1st quarter valued at $134,000. Shaker Financial Services LLC purchased a new position in shares of abrdn Life Sciences Investors during the 1st quarter valued at $297,000. LPL Financial LLC grew its holdings in shares of abrdn Life Sciences Investors by 14.4% during the 1st quarter. LPL Financial LLC now owns 328,402 shares of the company's stock valued at $4,167,000 after acquiring an additional 41,307 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of abrdn Life Sciences Investors by 36.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock valued at $4,326,000 after acquiring an additional 90,436 shares in the last quarter. 32.21% of the stock is currently owned by 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.