Saba Capital Management, L.P. Sells 41,623 Shares of abrdn Life Sciences Investors (NYSE:HQL) Stock

Key Points

• Saba Capital Management sold 41,623 shares of abrdn Life Sciences Investors for a total of $588,549.22, reducing their position by 1.45% to approximately 2.83 million shares valued at $40.12 million.
• The company's stock traded down 0.1% to $14.11, with a 50-day simple moving average at $13.67 and a 200-day simple moving average at $12.91.
• abrdn Life Sciences Investors announced a quarterly dividend of $0.42 per share, resulting in an annualized yield of 11.9%, to be paid on September 30th.

abrdn Life Sciences Investors (NYSE:HQL - Get Free Report) major shareholder Saba Capital Management, L.P. sold 41,623 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $14.14, for a total value of $588,549.22. Following the transaction, the insider owned 2,837,633 shares of the company's stock, valued at approximately $40,124,130.62. This trade represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 Friday, September 19th, Saba Capital Management, L.P. sold 6,989 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.10, for a total value of $98,544.90.
• On Thursday, September 18th, Saba Capital Management, L.P. sold 40,208 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.07, for a total transaction of $565,726.56.
• On Wednesday, September 17th, Saba Capital Management, L.P. sold 24,328 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.99, for a total transaction of $340,348.72.
• On Tuesday, September 16th, Saba Capital Management, L.P. sold 2,026 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.99, for a total transaction of $28,343.74.
• On Monday, September 15th, Saba Capital Management, L.P. sold 700 shares of abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.13, for a total transaction of $9,891.00.
• On Thursday, September 11th, Saba Capital Management, L.P. sold 15,116 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.28, for a total transaction of $215,856.48.
• On Tuesday, September 2nd, Saba Capital Management, L.P. sold 14,083 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.04, for a total transaction of $197,725.32.
• On Friday, August 29th, Saba Capital Management, L.P. sold 23,723 shares of abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.89, for a total transaction of $329,512.47.
• On Tuesday, August 26th, Saba Capital Management, L.P. sold 400 shares of abrdn Life Sciences Investors stock. The shares were 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 shares were sold at an average price of $14.07, for a total transaction of $150,689.70.

abrdn Life Sciences Investors Trading Down 0.1%

HQL stock traded down $0.01 during mid-day trading on Tuesday, hitting $14.11. 67,659 shares of the company were exchanged, compared to its average volume of 118,103. The business has a 50 day simple moving average of $13.67 and a 200-day simple moving average of $12.91. abrdn Life Sciences Investors has a 1-year low of $10.55 and a 1-year high of $15.60.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.68 annualized dividend and a yield of 11.9%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in abrdn Life Sciences Investors by 16.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 193,484 shares of the company's stock valued at $2,455,000 after acquiring an additional 27,433 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of abrdn Life Sciences Investors during the first quarter worth about $134,000. Shaker Financial Services LLC bought a new stake in shares of abrdn Life Sciences Investors during the first quarter worth about $297,000. LPL Financial LLC increased its position in shares of abrdn Life Sciences Investors by 14.4% during the first quarter. LPL Financial LLC now owns 328,402 shares of the company's stock worth $4,167,000 after acquiring an additional 41,307 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of abrdn Life Sciences Investors by 36.1% during the first quarter. Flagship Harbor Advisors LLC now owns 340,877 shares of the company's stock worth $4,326,000 after acquiring an additional 90,436 shares in the last quarter. 32.21% of the stock is 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.

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