Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 11,674 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) 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 value of $164,836.88. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Abrdn Life Sciences Investors Trading Up 0.2 %

Abrdn Life Sciences Investors stock traded up $0.03 during midday trading on Thursday, reaching $14.16. 52,215 shares of the stock traded hands, compared to its average volume of 111,503. The firm has a fifty day moving average price of $13.75 and a two-hundred day moving average price of $14.62. Abrdn Life Sciences Investors has a fifty-two week low of $12.76 and a fifty-two week 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. Shareholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 14.12%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HQL. Penserra Capital Management LLC acquired a new position in Abrdn Life Sciences Investors during the 3rd quarter valued at about $11,702,000. Absolute Investment Advisers LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth about $5,242,000. International Assets Investment Management LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter worth about $204,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth about $160,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Abrdn Life Sciences Investors during the 2nd quarter worth about $154,000. 32.21% of the stock is owned by institutional investors and hedge funds.

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.