Formidable Asset Management LLC Has $2.66 Million Holdings in abrdn Life Sciences Investors $HQL

Formidable Asset Management LLC increased its position in shares of abrdn Life Sciences Investors (NYSE:HQL) by 27.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 158,385 shares of the company’s stock after buying an additional 33,940 shares during the period. Formidable Asset Management LLC’s holdings in abrdn Life Sciences Investors were worth $2,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HQL. Geneos Wealth Management Inc. grew its holdings in abrdn Life Sciences Investors by 200.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock worth $29,000 after acquiring an additional 1,529 shares during the period. NewEdge Advisors LLC boosted its position in shares of abrdn Life Sciences Investors by 5.2% during the 2nd quarter. NewEdge Advisors LLC now owns 34,190 shares of the company’s stock valued at $438,000 after purchasing an additional 1,690 shares in the last quarter. Uhlmann Price Securities LLC grew its stake in abrdn Life Sciences Investors by 2.3% during the first quarter. Uhlmann Price Securities LLC now owns 77,857 shares of the company’s stock worth $1,267,000 after purchasing an additional 1,719 shares during the period. First Trust Advisors LP grew its stake in abrdn Life Sciences Investors by 4.0% during the fourth quarter. First Trust Advisors LP now owns 48,770 shares of the company’s stock worth $818,000 after purchasing an additional 1,880 shares during the period. Finally, Jane Street Group LLC increased its holdings in abrdn Life Sciences Investors by 19.1% in the fourth quarter. Jane Street Group LLC now owns 16,636 shares of the company’s stock worth $279,000 after purchasing an additional 2,665 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

abrdn Life Sciences Investors Price Performance

Shares of HQL opened at $19.32 on Monday. abrdn Life Sciences Investors has a 52-week low of $12.71 and a 52-week high of $19.40. The business’s 50 day moving average price is $17.67 and its two-hundred day moving average price is $17.12.

abrdn Life Sciences Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st will be paid a $0.56 dividend. The ex-dividend date is Thursday, May 21st. This represents a $2.24 annualized dividend and a dividend yield of 11.6%.

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.