Saba Capital Management, L.P. Sells 48,623 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 48,623 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $12.58, for a total value of $611,677.34. Following the completion of the transaction, the insider now directly owns 3,188,405 shares of the company’s stock, valued at approximately $40,110,134.90. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.01, for a total value of $428,315.22.
• 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 shares were 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 transaction 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 value of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

NYSE HQL traded down $0.38 during trading hours on Tuesday, reaching $12.32. The company’s stock had a trading volume of 173,213 shares, compared to its average volume of 99,025. Abrdn Life Sciences Investors has a 1-year low of $12.29 and a 1-year high of $15.90. The company’s 50-day moving average is $13.57 and its two-hundred day moving average is $14.09.

Abrdn Life Sciences Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 15.27%. The ex-dividend date was Friday, February 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in Abrdn Life Sciences Investors by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock worth $395,000 after acquiring an additional 933 shares during the period. Kapstone Financial Advisors LLC increased its stake in shares of 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 worth $185,000 after purchasing an additional 1,300 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after purchasing an additional 1,355 shares during the last quarter. BankPlus Trust Department purchased a new position in Abrdn Life Sciences Investors in the 4th quarter valued at about $28,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Abrdn Life Sciences Investors by 379.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock worth $64,000 after buying an additional 3,847 shares during the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.