Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 60,400 shares, a decrease of 37.4% from the February 28th total of 96,500 shares. Based on an average daily volume of 137,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Abrdn Life Sciences Investors Stock Down 0.7 %

HQL traded down $0.10 during trading on Friday, hitting $12.89. The company’s stock had a trading volume of 61,237 shares, compared to its average volume of 98,220. Abrdn Life Sciences Investors has a twelve month low of $12.69 and a twelve month high of $15.90. The business’s fifty day simple moving average is $13.58 and its 200 day simple moving average is $14.11.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 14.59%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 42,987 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $13.95, for a total transaction of $599,668.65. Following the sale, the insider now directly owns 3,332,473 shares of the company’s stock, valued at $46,487,998.35. This represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 108,386 shares of company stock worth $1,511,590. Corporate insiders own 10.06% of the company’s stock.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently added to or reduced their stakes in HQL. Commonwealth Equity Services LLC increased its stake in shares of Abrdn Life Sciences Investors by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock worth $395,000 after purchasing an additional 933 shares in the last quarter. Kapstone Financial Advisors LLC increased its stake in Abrdn Life Sciences Investors by 11.0% during the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock worth $185,000 after buying an additional 1,300 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after acquiring an additional 1,355 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $28,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after acquiring an additional 3,847 shares in the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.