Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Sells 32,922 Shares

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 32,922 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $13.01, for a total transaction of $428,315.22. Following the completion of the sale, the insider now owns 3,240,630 shares of the company’s stock, valued at approximately $42,160,596.30. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.62, for a total value of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.75, for a total transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.27, for a total transaction of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88.

Abrdn Life Sciences Investors Trading Down 2.9 %

NYSE HQL traded down $0.37 on Monday, hitting $12.51. The company’s stock had a trading volume of 153,854 shares, compared to its average volume of 129,266. The company’s 50-day moving average is $13.58 and its 200 day moving average is $14.11. Abrdn Life Sciences Investors has a 1-year low of $12.37 and a 1-year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.47 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 15.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BankPlus Trust Department purchased a new position in Abrdn Life Sciences Investors in the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Abrdn Life Sciences Investors by 379.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock worth $64,000 after acquiring an additional 3,847 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $154,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $160,000. Finally, Kapstone Financial Advisors LLC raised its stake in Abrdn Life Sciences Investors by 11.0% during the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after buying an additional 1,300 shares during the last quarter. 32.21% of the stock is currently owned by hedge funds and other 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.