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

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 60,400 shares, a decline of 37.4% from the February 28th total of 96,500 shares. Based on an average trading volume of 137,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the company’s shares are short sold.

Abrdn Life Sciences Investors Stock Performance

Shares of Abrdn Life Sciences Investors stock traded down $0.21 during trading hours on Monday, hitting $12.67. The company’s stock had a trading volume of 225,864 shares, compared to its average volume of 98,729. Abrdn Life Sciences Investors has a twelve month low of $12.36 and a twelve month high of $15.90. The firm has a fifty day moving average of $13.57 and a 200-day moving average of $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.84%. The ex-dividend date is Friday, February 21st.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $14.12, for a total transaction of $164,836.88. Following the sale, the insider now owns 3,418,349 shares of the company’s stock, valued at approximately $48,267,087.88. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 141,308 shares of company stock valued at $1,939,905. 10.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of institutional investors and hedge funds have recently made changes to their positions in HQL. Absolute Investment Advisers LLC acquired a new position in Abrdn Life Sciences Investors during the fourth quarter worth $5,242,000. Needham Investment Management LLC lifted 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 acquiring an additional 10,904 shares in the last quarter. LPL Financial LLC boosted its holdings in Abrdn Life Sciences Investors by 82.0% during the 4th quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock valued at $3,767,000 after acquiring an additional 129,313 shares during the period. Raymond James Financial Inc. acquired a new position in Abrdn Life Sciences Investors in the 4th quarter valued at about $3,129,000. Finally, Ameriprise Financial Inc. increased its stake in Abrdn Life Sciences Investors by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company’s stock worth $1,999,000 after purchasing an additional 10,742 shares during the period. 32.21% of the stock is 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.