Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 20,529 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 20,529 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of $13.12 per share, with a total value of $269,340.48. Following the purchase, the insider now owns 2,807,724 shares of the company’s stock, valued at approximately $36,837,338.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, April 22nd, Saba Capital Management, L.P. acquired 2,022 shares of Abrdn Life Sciences Investors stock. The stock was bought 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. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Stock Performance

HQL opened at $12.97 on Friday. The business has a 50 day moving average price of $13.49 and a two-hundred day moving average price 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 company also recently announced 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. The ex-dividend date was Wednesday, February 21st. This represents a $1.56 annualized dividend and a yield of 12.03%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

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

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.