abrdn Life Sciences Investors (NYSE:HQL) Sees Large Drop in Short Interest

abrdn Life Sciences Investors (NYSE:HQL) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 14,265 shares, a decline of 60.1% from the June 15th total of 35,781 shares. Based on an average daily volume of 150,344 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HQL. Geneos Wealth Management Inc. raised its stake in shares of abrdn Life Sciences Investors by 200.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock valued at $29,000 after purchasing an additional 1,529 shares during the period. Global Retirement Partners LLC boosted its stake in shares of abrdn Life Sciences Investors by 187.8% in the fourth quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock valued at $118,000 after purchasing an additional 4,593 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of abrdn Life Sciences Investors in the fourth quarter valued at $177,000. Evolve Private Wealth LLC acquired a new stake in abrdn Life Sciences Investors during the 4th quarter valued at $199,000. Finally, Independent Financial Group LLC acquired a new stake in abrdn Life Sciences Investors during the 1st quarter valued at $211,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

abrdn Life Sciences Investors Trading Down 0.1%

Shares of abrdn Life Sciences Investors stock traded down $0.02 during trading hours on Tuesday, reaching $19.86. 139,279 shares of the company’s stock were exchanged, compared to its average volume of 121,654. abrdn Life Sciences Investors has a 52-week low of $12.87 and a 52-week high of $21.32. The company has a fifty day moving average of $18.24 and a 200-day moving average of $17.37.

abrdn Life Sciences Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend was Thursday, May 21st.

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.