Abrdn Life Sciences Investors (NYSE:HQL) Short Interest Update

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

Insider Activity at Abrdn Life Sciences Investors

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 1,846 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38. Following the transaction, the insider now owns 3,379,525 shares in the company, valued at approximately $47,414,735.75. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 108,386 shares of company stock worth $1,511,590 over the last 90 days. Company insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in Abrdn Life Sciences Investors by 7.5% in the 4th quarter. Ameriprise Financial Inc. now owns 153,396 shares of the company’s stock valued at $1,999,000 after buying an additional 10,742 shares in the last quarter. Jane Street Group LLC purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter valued at about $290,000. Stifel Financial Corp grew its holdings in Abrdn Life Sciences Investors by 67.1% in the fourth quarter. Stifel Financial Corp now owns 28,341 shares of the company’s stock valued at $372,000 after purchasing an additional 11,378 shares during the period. Guggenheim Capital LLC acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter worth approximately $211,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $3,129,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

Abrdn Life Sciences Investors Trading Down 0.7 %

HQL stock traded down $0.10 on Friday, reaching $12.89. 61,237 shares of the company’s stock were exchanged, compared to its average volume of 98,220. The stock has a fifty day moving average of $13.58 and a 200-day moving average of $14.11. Abrdn Life Sciences Investors has a twelve month low of $12.69 and a twelve month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 14.59%. The ex-dividend date is Friday, February 21st.

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.