399,526 Shares in Abrdn Life Sciences Investors (NYSE:HQL) Acquired by Absolute Investment Advisers LLC

Absolute Investment Advisers LLC purchased a new stake in shares of Abrdn Life Sciences Investors (NYSE:HQL) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 399,526 shares of the company’s stock, valued at approximately $5,242,000.

Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC bought a new stake in Abrdn Life Sciences Investors during the third quarter worth approximately $11,702,000. Needham Investment Management LLC lifted its position in shares of Abrdn Life Sciences Investors by 3.2% during the 3rd quarter. Needham Investment Management LLC now owns 352,719 shares of the company’s stock valued at $5,319,000 after acquiring an additional 10,904 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Abrdn Life Sciences Investors by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 156,384 shares of the company’s stock worth $2,216,000 after acquiring an additional 10,137 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Abrdn Life Sciences Investors by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock worth $1,199,000 after acquiring an additional 6,200 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Abrdn Life Sciences Investors during the third quarter worth $204,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 stock was sold at an average price of $14.12, for a total transaction of $164,836.88. Following the transaction, the insider now directly owns 3,418,349 shares of the company’s stock, valued at approximately $48,267,087.88. The trade was a 0.34 % decrease in their ownership of the stock. The transaction 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 company insiders.

Abrdn Life Sciences Investors Price Performance

Shares of HQL opened at $14.23 on Monday. The business’s 50-day moving average price is $13.77 and its 200 day moving average price is $14.59. Abrdn Life Sciences Investors has a 1-year low of $12.76 and a 1-year high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were given a $0.50 dividend. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 14.05%. The ex-dividend date of this dividend was Thursday, November 21st.

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.