Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 1,303 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 1,303 shares of Abrdn Life Sciences Investors stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $13.50 per share, with a total value of $17,590.50. Following the completion of the purchase, the insider now owns 3,251,883 shares in the company, valued at $43,900,420.50. The purchase 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 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, May 15th, Saba Capital Management, L.P. purchased 34,755 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $14.19 per share, with a total value of $493,173.45.
• On Friday, May 10th, Saba Capital Management, L.P. bought 57,862 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.86 per share, for a total transaction of $801,967.32.
• On Wednesday, May 8th, Saba Capital Management, L.P. purchased 10,986 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.70 per share, for a total transaction of $150,508.20.
• On Monday, May 6th, Saba Capital Management, L.P. purchased 10,713 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.62 per share, for a total transaction of $145,911.06.
• On Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.46 per share, for a total transaction 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, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. purchased 120,304 shares of Abrdn Life Sciences Investors stock. The shares were acquired 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. acquired 20,529 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.12 per share, with a total value of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The stock was bought 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. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average price of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Trading Down 0.1 %

HQL stock traded down $0.01 on Friday, hitting $13.46. The company had a trading volume of 9,072 shares, compared to its average volume of 103,748. Abrdn Life Sciences Investors has a 12-month low of $11.34 and a 12-month high of $14.37. The stock’s 50-day simple moving average is $13.43 and its 200 day simple moving average is $13.34.

Abrdn Life Sciences Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 14.26%. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, May 22nd.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of institutional investors and hedge funds have recently made changes to their positions in HQL. Oppenheimer & Co. Inc. lifted its holdings in Abrdn Life Sciences Investors by 4.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 18,414 shares of the company’s stock valued at $251,000 after buying an additional 814 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Abrdn Life Sciences Investors by 2.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 36,937 shares of the company’s stock worth $497,000 after purchasing an additional 904 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Abrdn Life Sciences Investors by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 72,249 shares of the company’s stock valued at $901,000 after acquiring an additional 1,220 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the 1st quarter valued at $27,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in 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 worth $136,000 after buying an additional 3,811 shares in the last quarter. 32.21% of the stock is owned by hedge funds and other 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.