Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 15,400 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 15,400 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $11.67, for a total value of $179,718.00. Following the completion of the sale, the insider now owns 3,078,916 shares of the company’s stock, valued at $35,930,949.72. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $11.14, for a total value of $335,937.84.
• On Friday, April 4th, Saba Capital Management, L.P. sold 6,889 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $11.57, for a total value 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 value 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 transaction 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 transaction 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 transaction 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 value 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 value 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 value of $216,090.61.

Abrdn Life Sciences Investors Trading Down 0.8 %

HQL traded down $0.10 during trading on Tuesday, reaching $11.72. 56,324 shares of the company traded hands, compared to its average volume of 101,436. Abrdn Life Sciences Investors has a 12-month low of $10.55 and a 12-month high of $15.90. The firm has a fifty day simple moving average of $12.95 and a 200 day simple moving average of $13.78.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 16.04%.

Institutional Trading of Abrdn Life Sciences Investors

Several hedge funds have recently bought and sold shares of the stock. BankPlus Trust Department purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at about $28,000. Steward Partners Investment Advisory LLC boosted its stake in Abrdn Life Sciences Investors by 379.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after buying an additional 3,847 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Abrdn Life Sciences Investors during the 1st quarter valued at approximately $131,000. Landscape Capital Management L.L.C. bought a new stake in Abrdn Life Sciences Investors in the 4th quarter worth approximately $154,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Abrdn Life Sciences Investors in the 4th quarter worth approximately $160,000. Hedge funds and other institutional investors 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.