Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Purchases 120,304 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 120,304 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $1,563,952.00. Following the completion of the purchase, the insider now directly owns 3,025,602 shares of the company’s stock, valued at approximately $39,332,826. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of Abrdn Life Sciences Investors stock opened at $13.10 on Tuesday. Abrdn Life Sciences Investors has a twelve month low of $11.34 and a twelve month high of $14.37. The company’s fifty day moving average is $13.45 and its 200 day moving average is $13.12.

Abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a $0.39 dividend. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 21st. This represents a $1.56 annualized dividend and a dividend yield of 11.91%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 1st quarter valued at about $27,000. Matisse Capital bought a new position in shares of Abrdn Life Sciences Investors in the fourth quarter valued at $135,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Abrdn Life Sciences Investors by 60.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock valued at $136,000 after buying an additional 3,811 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Abrdn Life Sciences Investors during the first quarter worth about $142,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Abrdn Life Sciences Investors by 3,424.5% in the 4th quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after acquiring an additional 10,753 shares during the last quarter. 32.21% of the stock is owned by institutional investors and hedge funds.

Abrdn Life Sciences Investors Company Profile

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.