Abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Decline in Short Interest

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 45,700 shares, a decline of 41.3% from the December 31st total of 77,800 shares. Based on an average trading volume of 101,800 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling at Abrdn Life Sciences Investors

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total value of $164,836.88. Following the completion of the sale, the insider now directly owns 3,418,349 shares in the company, valued at $48,267,087.88. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.06% of the company’s stock.

Institutional Trading of Abrdn Life Sciences Investors

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC acquired a new position in shares of Abrdn Life Sciences Investors during the third quarter valued at approximately $11,702,000. Absolute Investment Advisers LLC purchased a new position in Abrdn Life Sciences Investors in the 4th quarter valued at $5,242,000. Needham Investment Management LLC boosted its stake in Abrdn Life Sciences Investors by 3.2% during the 3rd quarter. Needham Investment Management LLC now owns 352,719 shares of the company’s stock worth $5,319,000 after purchasing an additional 10,904 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Abrdn Life Sciences Investors by 6.9% during the second quarter. Cetera Investment Advisers now owns 156,384 shares of the company’s stock worth $2,216,000 after buying an additional 10,137 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Abrdn Life Sciences Investors by 7.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock valued at $1,199,000 after buying an additional 6,200 shares during the last quarter. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Trading Up 0.5 %

NYSE HQL traded up $0.07 on Friday, reaching $14.23. 80,187 shares of the company’s stock traded hands, compared to its average volume of 103,600. Abrdn Life Sciences Investors has a fifty-two week low of $12.76 and a fifty-two week high of $15.90. The stock has a 50 day moving average price of $13.77 and a 200-day moving average price of $14.60.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 14.05%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49.

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.