Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Expands By 212.4%

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 77,800 shares, an increase of 212.4% from the December 31st total of 24,900 shares. Based on an average daily trading volume, of 93,900 shares, the days-to-cover ratio is currently 0.8 days.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88. Following the completion of the transaction, the insider now directly owns 3,418,349 shares in the company, valued at approximately $48,267,087.88. This represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Abrdn Life Sciences Investors during the 3rd quarter worth $30,000. Sanctuary Advisors LLC increased its stake in shares of Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after buying an additional 1,355 shares during the period. Penserra Capital Management LLC bought a new position in shares of Abrdn Life Sciences Investors during the third quarter worth about $11,702,000. International Assets Investment Management LLC acquired a new position in shares of Abrdn Life Sciences Investors in the third quarter worth approximately $204,000. Finally, Stephens Inc. AR boosted its holdings in Abrdn Life Sciences Investors by 7.6% in the third quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after acquiring an additional 896 shares during the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

Abrdn Life Sciences Investors Stock Performance

Shares of HQL stock opened at $14.16 on Friday. Abrdn Life Sciences Investors has a twelve month low of $12.76 and a twelve month high of $15.90. The stock’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $14.61.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.50 per share. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 14.12%. The ex-dividend date was Thursday, November 21st.

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.