Wolverine Asset Management LLC Sells 114,766 Shares of Abrdn Life Sciences Investors (NYSE:HQL)

Wolverine Asset Management LLC decreased its position in shares of Abrdn Life Sciences Investors (NYSE:HQL) by 35.6% in the fourth quarter, HoldingsChannel reports. The firm owned 207,392 shares of the company’s stock after selling 114,766 shares during the quarter. Wolverine Asset Management LLC’s holdings in Abrdn Life Sciences Investors were worth $2,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in Abrdn Life Sciences Investors by 183.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 131,077 shares of the company’s stock worth $1,764,000 after acquiring an additional 84,813 shares during the last quarter. Quantedge Capital Pte Ltd increased its stake in shares of Abrdn Life Sciences Investors by 60.8% in the third quarter. Quantedge Capital Pte Ltd now owns 94,420 shares of the company’s stock worth $1,177,000 after purchasing an additional 35,700 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in Abrdn Life Sciences Investors during the fourth quarter valued at approximately $150,000. Allspring Global Investments Holdings LLC raised its position in Abrdn Life Sciences Investors by 30.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock worth $6,113,000 after purchasing an additional 106,539 shares during the last quarter. Finally, Saba Capital Management L.P. increased its position in shares of Abrdn Life Sciences Investors by 98.3% in the 3rd quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock valued at $3,387,000 after buying an additional 134,644 shares in the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Price Performance

HQL stock remained flat at $13.15 during mid-day trading on Wednesday. 45,224 shares of the company’s stock traded hands, compared to its average volume of 110,584. The business has a fifty day simple moving average of $13.53 and a 200 day simple moving average of $13.10. Abrdn Life Sciences Investors has a 1 year low of $11.34 and a 1 year high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were paid a dividend of $0.39 per share. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a dividend yield of 11.86%. The ex-dividend date was Wednesday, February 21st.

Insiders Place Their Bets

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. purchased 2,022 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $12.88 per share, with a total value of $26,043.36. Following the transaction, the insider now directly owns 2,738,992 shares in the company, valued at approximately $35,278,216.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 84,160 shares of company stock worth $1,077,618 in the last three months. 10.06% of the stock is currently owned by corporate insiders.

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.