Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 1,846 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.03, for a total value of $25,899.38. Following the transaction, the insider now directly owns 3,379,525 shares in the company, valued at approximately $47,414,735.75. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 0.7 %

NYSE HQL opened at $14.26 on Friday. The company has a fifty day moving average price of $13.77 and a 200-day moving average price of $14.58. 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 disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 14.03%. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several hedge funds have recently modified their holdings of the company. BankPlus Trust Department bought a new position in shares of Abrdn Life Sciences Investors in the fourth quarter valued at approximately $28,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter valued at $30,000. Steward Partners Investment Advisory LLC increased its position in shares of 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 purchasing an additional 3,847 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter worth about $148,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 2nd quarter worth about $154,000. Institutional investors own 32.21% of the company’s stock.

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.