Formidable Asset Management LLC Has $1.93 Million Stock Holdings in abrdn Life Sciences Investors $HQL

Formidable Asset Management LLC boosted its stake in abrdn Life Sciences Investors (NYSE:HQL) by 63.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,445 shares of the company’s stock after purchasing an additional 48,252 shares during the period. Formidable Asset Management LLC owned about 0.43% of abrdn Life Sciences Investors worth $1,930,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HQL. Royal Bank of Canada increased its holdings in shares of abrdn Life Sciences Investors by 53.3% during the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock worth $934,000 after buying an additional 25,542 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of abrdn Life Sciences Investors by 43.1% in the 1st quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock valued at $412,000 after acquiring an additional 9,785 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of abrdn Life Sciences Investors by 112.2% during the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock valued at $452,000 after acquiring an additional 18,674 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of abrdn Life Sciences Investors by 20.3% during the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock valued at $4,816,000 after acquiring an additional 63,429 shares in the last quarter. Finally, Clough Capital Partners L P bought a new stake in abrdn Life Sciences Investors during the 2nd quarter worth $318,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

abrdn Life Sciences Investors Stock Down 0.1%

Shares of HQL opened at $16.83 on Friday. abrdn Life Sciences Investors has a 12-month low of $10.55 and a 12-month high of $17.80. The business has a 50-day simple moving average of $16.69 and a two-hundred day simple moving average of $16.57.

abrdn Life Sciences Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th were paid a $0.56 dividend. This is an increase from abrdn Life Sciences Investors’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend was Friday, February 20th.

abrdn Life Sciences Investors Profile

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.