Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 6,889 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 6,889 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $11.57, for a total transaction of $79,705.73. Following the completion of the transaction, the insider now directly owns 3,124,472 shares in the company, valued at $36,150,141.04. The trade was a 0.22 % decrease in their position. The sale 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 shares 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 2nd, Saba Capital Management, L.P. sold 29,102 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $12.28, for a total value of $357,372.56.
• 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 Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.01, for a total transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total transaction 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 transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total value 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 value 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 transaction of $164,836.88.

Abrdn Life Sciences Investors Trading Down 3.1 %

NYSE:HQL traded down $0.36 during midday trading on Monday, reaching $11.08. 121,434 shares of the stock traded hands, compared to its average volume of 132,545. Abrdn Life Sciences Investors has a 12 month low of $10.90 and a 12 month high of $15.90. The company has a fifty day moving average of $13.42 and a 200 day moving average of $14.00.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 16.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Absolute Investment Advisers LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $5,242,000. Raymond James Financial Inc. purchased a new position in Abrdn Life Sciences Investors during the 4th quarter valued at $3,129,000. LPL Financial LLC raised its holdings in Abrdn Life Sciences Investors by 82.0% in the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock worth $3,767,000 after purchasing an additional 129,313 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter worth about $1,594,000. Finally, Jane Street Group LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at about $290,000. Hedge funds and other 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.