Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 26,274 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 26,274 shares of Abrdn Life Sciences Investors stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $13.46 per share, for a total transaction of $353,648.04. Following the completion of the acquisition, the insider now owns 3,068,730 shares in the company, valued at approximately $41,305,105.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 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 Tuesday, April 30th, Saba Capital Management, L.P. acquired 16,573 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.13 per share, with a total value of $217,603.49.
• On Friday, April 26th, Saba Capital Management, L.P. acquired 120,304 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost 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 stock was acquired 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 shares were purchased 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 cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of HQL stock traded up $0.20 during trading hours on Thursday, reaching $13.48. 65,820 shares of the stock were exchanged, compared to its average volume of 109,463. Abrdn Life Sciences Investors has a 12-month low of $11.34 and a 12-month high of $14.37. The company’s 50-day moving average price is $13.42 and its 200-day moving average price is $13.13.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.57%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Abrdn Life Sciences Investors by 5.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 86,110 shares of the company’s stock valued at $1,174,000 after buying an additional 4,100 shares in the last quarter. Matisse Capital lifted its holdings in Abrdn Life Sciences Investors by 243.3% during the 1st quarter. Matisse Capital now owns 34,333 shares of the company’s stock valued at $468,000 after buying an additional 24,333 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in Abrdn Life Sciences Investors during the 1st quarter valued at about $142,000. Blue Bell Private Wealth Management LLC lifted its holdings in Abrdn Life Sciences Investors by 211.1% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 31,494 shares of the company’s stock valued at $429,000 after buying an additional 21,369 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Abrdn Life Sciences Investors by 20.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 158,089 shares of the company’s stock valued at $2,155,000 after buying an additional 27,012 shares in the last quarter. 32.21% of the stock is owned by hedge funds and other institutional investors.

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.