Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 34,755 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 34,755 shares of Abrdn Life Sciences Investors stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $14.19 per share, for a total transaction of $493,173.45. Following the completion of the purchase, the insider now directly owns 3,250,580 shares in the company, valued at $46,125,730.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, May 10th, Saba Capital Management, L.P. purchased 57,862 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.86 per share, for a total transaction of $801,967.32.
• On Wednesday, May 8th, Saba Capital Management, L.P. acquired 10,986 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average price of $13.70 per share, for a total transaction of $150,508.20.
• On Monday, May 6th, Saba Capital Management, L.P. purchased 10,713 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.62 per share, with a total value of $145,911.06.
• On Thursday, May 2nd, Saba Capital Management, L.P. acquired 26,274 shares of Abrdn Life Sciences Investors stock. The shares were purchased 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. bought 16,573 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.00 per share, for a total transaction of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The shares were acquired 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. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. bought 81,738 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of NYSE HQL opened at $14.10 on Friday. Abrdn Life Sciences Investors has a 12-month low of $11.34 and a 12-month high of $14.37. The stock’s 50 day simple moving average is $13.43 and its 200 day simple moving average is $13.29.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 13.62%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, May 22nd.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently modified their holdings of HQL. B. Riley Wealth Advisors Inc. bought a new stake in Abrdn Life Sciences Investors in the 1st quarter valued at about $143,000. Advisors Asset Management Inc. increased its stake in shares of Abrdn Life Sciences Investors by 21.2% in the first quarter. Advisors Asset Management Inc. now owns 149,184 shares of the company’s stock valued at $2,033,000 after purchasing an additional 26,107 shares during the period. Karpus Management Inc. bought a new stake in shares of Abrdn Life Sciences Investors during the first quarter valued at approximately $4,709,000. Oppenheimer & Co. Inc. boosted its position in shares of Abrdn Life Sciences Investors by 4.6% during the first quarter. Oppenheimer & Co. Inc. now owns 18,414 shares of the company’s stock worth $251,000 after buying an additional 814 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Abrdn Life Sciences Investors by 5.0% in the first quarter. Janney Montgomery Scott LLC now owns 86,110 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

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.