Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Increases By 100.8%

Abrdn Life Sciences Investors (NYSE:HQL) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 49,600 shares, a growth of 100.8% from the January 31st total of 24,700 shares. Based on an average trading volume of 126,000 shares, the short-interest ratio is currently 0.4 days.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 36,536 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $13.75, for a total value of $502,370.00. Following the completion of the transaction, the insider now owns 3,276,181 shares in the company, valued at $45,047,488.75. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 108,386 shares of company stock worth $1,511,590 in the last 90 days. Insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Several institutional investors and hedge funds have recently modified their holdings of HQL. BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 379.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock valued at $64,000 after buying an additional 3,847 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 3rd quarter valued at about $148,000. Landscape Capital Management L.L.C. acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $154,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors in the 4th quarter valued at about $160,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

Abrdn Life Sciences Investors Stock Performance

HQL stock traded up $0.10 during midday trading on Friday, reaching $13.45. The stock had a trading volume of 87,009 shares, compared to its average volume of 131,759. The firm has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $14.42. Abrdn Life Sciences Investors has a 52-week low of $12.76 and a 52-week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 dividend on an annualized basis and a yield of 13.98%.

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.