Saba Capital Management, L.P. Buys 10,713 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 10,713 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average price of $13.62 per share, for a total transaction of $145,911.06. Following the completion of the purchase, the insider now owns 3,079,443 shares in the company, valued at approximately $41,942,013.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.46 per share, with a total value of $353,648.04.
• On Tuesday, April 30th, Saba Capital Management, L.P. purchased 16,573 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average price of $13.13 per share, for a total transaction of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. acquired 120,304 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 20,529 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $12.88 per share, with a total value 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 acquired at an average cost of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Down 0.3 %

Shares of Abrdn Life Sciences Investors stock opened at $13.70 on Thursday. Abrdn Life Sciences Investors has a 1 year low of $11.34 and a 1 year high of $14.37. The stock has a fifty day moving average price of $13.40 and a 200-day moving average price of $13.18.

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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 11.39%. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Trading of Abrdn Life Sciences Investors

Several hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors LLC raised its holdings in shares of Abrdn Life Sciences Investors by 73.7% in the 4th quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock worth $6,654,000 after purchasing an additional 209,708 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Abrdn Life Sciences Investors by 30.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock valued at $6,113,000 after buying an additional 106,539 shares during the period. RPO LLC lifted its position in shares of Abrdn Life Sciences Investors by 3.5% during the 4th quarter. RPO LLC now owns 338,542 shares of the company’s stock valued at $4,557,000 after buying an additional 11,500 shares during the last quarter. Wolverine Asset Management LLC grew its stake in shares of Abrdn Life Sciences Investors by 36.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company’s stock worth $4,017,000 after acquiring an additional 86,671 shares during the period. Finally, AQR Arbitrage LLC increased its holdings in Abrdn Life Sciences Investors by 89.8% in the 3rd quarter. AQR Arbitrage LLC now owns 272,496 shares of the company’s stock worth $3,398,000 after acquiring an additional 128,933 shares during the last quarter. Institutional investors own 32.21% of the company’s stock.

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.