Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 10,713 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 10,713 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $13.62 per share, for a total transaction of $145,911.06. Following the completion of the acquisition, the insider now directly owns 3,079,443 shares in the company, valued at approximately $41,942,013.66. The transaction was disclosed in a document filed with the SEC, which is available through 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 Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.46 per share, for a total transaction of $353,648.04.
• On Tuesday, April 30th, Saba Capital Management, L.P. purchased 16,573 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. acquired 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

HQL stock traded up $0.07 during trading on Tuesday, hitting $13.74. The company had a trading volume of 93,949 shares, compared to its average volume of 108,034. Abrdn Life Sciences Investors has a one year low of $11.34 and a one year high of $14.37. The business has a 50-day moving average of $13.40 and a 200-day moving average of $13.16.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.56 dividend on an annualized basis and a yield of 11.35%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Trading of Abrdn Life Sciences Investors

A number of large investors have recently bought and sold shares of HQL. Future Financial Wealth Managment LLC bought a new stake in Abrdn Life Sciences Investors in the first quarter worth approximately $27,000. Matisse Capital bought a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter valued at $135,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Abrdn Life Sciences Investors by 60.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after acquiring an additional 3,811 shares during the period. Eudaimonia Partners LLC bought a new position in Abrdn Life Sciences Investors during the first quarter worth $142,000. Finally, International Assets Investment Management LLC grew its holdings in Abrdn Life Sciences Investors by 3,424.5% in the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after purchasing an additional 10,753 shares during the period. 32.21% of the stock is currently owned by institutional investors and hedge funds.

About Abrdn Life Sciences Investors

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.