abrdn Life Sciences Investors (NYSE:HQL) Reaches New 1-Year High – Time to Buy?

Shares of abrdn Life Sciences Investors (NYSE:HQL) reached a new 52-week high during trading on Monday . The stock traded as high as $18.48 and last traded at $18.2210, with a volume of 49296 shares changing hands. The stock had previously closed at $17.96.

abrdn Life Sciences Investors Stock Performance

The stock’s 50 day moving average price is $17.59 and its two-hundred day moving average price is $17.08.

abrdn Life Sciences Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Thursday, May 21st.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in abrdn Life Sciences Investors by 57.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 362,535 shares of the company’s stock valued at $5,898,000 after acquiring an additional 132,098 shares during the last quarter. LPL Financial LLC lifted its stake in shares of abrdn Life Sciences Investors by 20.0% during the 4th quarter. LPL Financial LLC now owns 448,846 shares of the company’s stock worth $7,532,000 after purchasing an additional 74,787 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of abrdn Life Sciences Investors during the fourth quarter worth $1,158,000. Raymond James Financial Inc. boosted its holdings in shares of abrdn Life Sciences Investors by 20.3% during the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock worth $4,816,000 after purchasing an additional 63,429 shares during the last quarter. Finally, Formidable Asset Management LLC grew its position in shares of abrdn Life Sciences Investors by 63.3% in the fourth quarter. Formidable Asset Management LLC now owns 124,445 shares of the company’s stock valued at $1,930,000 after purchasing an additional 48,252 shares during the period. 32.21% of the stock is owned by institutional investors and hedge funds.

abrdn Life Sciences Investors Company 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.