abrdn Life Sciences Investors (NYSE:HQL) Sets New 12-Month High – Here’s What Happened

abrdn Life Sciences Investors (NYSE:HQL)’s share price hit a new 52-week high on Monday . The company traded as high as $19.63 and last traded at $19.4820, with a volume of 39963 shares changing hands. The stock had previously closed at $19.25.

abrdn Life Sciences Investors Price Performance

The business has a 50-day moving average of $17.67 and a 200 day moving average of $17.12.

abrdn Life Sciences Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.24 dividend on an annualized basis and a yield of 11.4%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HQL. Closed End Fund Advisors Inc. purchased a new stake in abrdn Life Sciences Investors during the 4th quarter valued at $498,000. Formidable Asset Management LLC raised its stake in shares of abrdn Life Sciences Investors by 63.3% in the fourth quarter. Formidable Asset Management LLC now owns 124,445 shares of the company’s stock valued at $1,930,000 after acquiring an additional 48,252 shares during the period. Absolute Investment Advisers LLC bought a new stake in shares of abrdn Life Sciences Investors in the 1st quarter worth about $582,000. First Trust Advisors LP boosted its stake in shares of abrdn Life Sciences Investors by 17.6% during the 1st quarter. First Trust Advisors LP now owns 57,337 shares of the company’s stock worth $933,000 after purchasing an additional 8,567 shares during the period. Finally, WNY Asset Management LLC purchased a new stake in abrdn Life Sciences Investors in the 1st quarter worth about $239,000. 32.21% of the stock is currently owned by institutional investors.

About abrdn Life Sciences Investors

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.