Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Purchases 16,573 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 16,573 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $13.13 per share, with a total value of $217,603.49. Following the purchase, the insider now directly owns 3,042,204 shares in the company, valued at approximately $39,944,138.52. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, April 26th, Saba Capital Management, L.P. bought 120,304 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $13.00 per share, with a total value of $1,563,952.00.
• On Wednesday, April 24th, Saba Capital Management, L.P. purchased 20,529 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.12 per share, for a total transaction of $269,340.48.
• On Monday, April 22nd, Saba Capital Management, L.P. acquired 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. bought 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 Stock Up 1.7 %

Shares of NYSE:HQL opened at $13.30 on Thursday. The stock’s 50-day moving average is $13.42 and its 200-day moving average is $13.13. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.39 dividend. The ex-dividend date was Wednesday, February 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a yield of 11.73%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC raised its holdings in shares of Abrdn Life Sciences Investors by 73.7% in the 4th quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock worth $6,654,000 after buying an additional 209,708 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Abrdn Life Sciences Investors by 30.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock valued at $6,113,000 after acquiring an additional 106,539 shares during the period. RPO LLC raised its stake in Abrdn Life Sciences Investors by 3.5% during the fourth quarter. RPO LLC now owns 338,542 shares of the company’s stock worth $4,557,000 after acquiring an additional 11,500 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Abrdn Life Sciences Investors by 36.8% during the third quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company’s stock valued at $4,017,000 after acquiring an additional 86,671 shares during the period. Finally, AQR Arbitrage LLC boosted its stake in shares of Abrdn Life Sciences Investors by 89.8% in the 3rd quarter. AQR Arbitrage LLC now owns 272,496 shares of the company’s stock valued at $3,398,000 after purchasing an additional 128,933 shares in the last quarter. 32.21% of the stock is currently owned by institutional investors.

About Abrdn Life Sciences Investors

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.