180 Wealth Advisors LLC Acquires 6,976 Shares of abrdn Life Sciences Investors $HQL

180 Wealth Advisors LLC lifted its stake in abrdn Life Sciences Investors (NYSE:HQL) by 5.1% in the second quarter, Holdings Channel.com reports. The fund owned 143,098 shares of the company’s stock after purchasing an additional 6,976 shares during the period. 180 Wealth Advisors LLC’s holdings in abrdn Life Sciences Investors were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KPP Advisory Services LLC boosted its stake in abrdn Life Sciences Investors by 7.7% in the 2nd quarter. KPP Advisory Services LLC now owns 23,555 shares of the company’s stock worth $302,000 after purchasing an additional 1,681 shares during the period. Stephens Inc. AR boosted its position in shares of abrdn Life Sciences Investors by 9.8% in the second quarter. Stephens Inc. AR now owns 21,231 shares of the company’s stock valued at $272,000 after acquiring an additional 1,895 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of abrdn Life Sciences Investors by 21.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 235,499 shares of the company’s stock valued at $3,017,000 after acquiring an additional 42,015 shares during the period. Needham Investment Management LLC grew its stake in abrdn Life Sciences Investors by 7.4% during the first quarter. Needham Investment Management LLC now owns 378,654 shares of the company’s stock valued at $4,805,000 after acquiring an additional 25,935 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in abrdn Life Sciences Investors by 43.1% during the 1st quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock worth $412,000 after acquiring an additional 9,785 shares during the period. 32.21% of the stock is currently owned by institutional investors.

abrdn Life Sciences Investors Price Performance

Shares of NYSE:HQL opened at $16.37 on Friday. The firm has a fifty day moving average price of $14.84 and a two-hundred day moving average price of $13.39. abrdn Life Sciences Investors has a one year low of $10.55 and a one year high of $16.92.

abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.68 annualized dividend and a dividend yield of 10.3%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 41,623 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.14, for a total value of $588,549.22. Following the completion of the transaction, the insider directly owned 2,837,633 shares in the company, valued at approximately $40,124,130.62. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 179,906 shares of company stock worth $2,530,720. Insiders own 10.06% of the company’s stock.

abrdn Life Sciences Investors 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.