Saba Capital Management, L.P. Sells 32,922 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 32,922 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $13.01, for a total transaction of $428,315.22. Following the completion of the sale, the insider now directly owns 3,240,630 shares of the company’s stock, valued at $42,160,596.30. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total value of $611,677.34.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total value of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.75, for a total value of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.95, for a total transaction of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Down 3.0 %

HQL opened at $12.32 on Wednesday. Abrdn Life Sciences Investors has a one year low of $12.25 and a one year high of $15.90. The business has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 15.27%. The ex-dividend date was Friday, February 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HQL. BankPlus Trust Department bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC boosted its position in Abrdn Life Sciences Investors by 379.8% during the 4th 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. Landscape Capital Management L.L.C. purchased a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth approximately $154,000. Kingswood Wealth Advisors LLC bought a new position in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $160,000. Finally, Sanctuary Advisors LLC lifted its stake in shares of Abrdn Life Sciences Investors by 11.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after purchasing an additional 1,355 shares during the period. 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.