Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Buys 20,529 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 20,529 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average price of $13.12 per share, for a total transaction of $269,340.48. Following the completion of the transaction, the insider now owns 2,807,724 shares of the company’s stock, valued at $36,837,338.88. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, April 22nd, Saba Capital Management, L.P. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 0.4 %

Shares of HQL stock traded up $0.05 during trading on Friday, hitting $13.00. The company had a trading volume of 100,255 shares, compared to its average volume of 111,023. The stock’s 50-day moving average is $13.49 and its two-hundred day moving average is $13.10. Abrdn Life Sciences Investors has a 52 week low of $11.34 and a 52 week high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.00%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HQL. Eudaimonia Partners LLC purchased a new stake in Abrdn Life Sciences Investors in the first quarter worth approximately $142,000. Blue Bell Private Wealth Management LLC boosted its stake in Abrdn Life Sciences Investors by 211.1% in the first quarter. Blue Bell Private Wealth Management LLC now owns 31,494 shares of the company’s stock worth $429,000 after buying an additional 21,369 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Abrdn Life Sciences Investors by 20.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 158,089 shares of the company’s stock worth $2,155,000 after buying an additional 27,012 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in Abrdn Life Sciences Investors by 7.8% in the first quarter. 180 Wealth Advisors LLC now owns 132,549 shares of the company’s stock worth $1,807,000 after buying an additional 9,554 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Abrdn Life Sciences Investors in the first quarter worth approximately $27,000. 32.21% of the stock is currently owned by institutional investors.

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.