Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 2,022 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 2,022 shares of the stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $12.88 per share, with a total value of $26,043.36. Following the completion of the purchase, the insider now owns 2,738,992 shares of the company’s stock, valued at $35,278,216.96. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares 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, April 18th, Saba Capital Management, L.P. acquired 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

Shares of Abrdn Life Sciences Investors stock opened at $13.15 on Wednesday. Abrdn Life Sciences Investors has a 52 week low of $11.34 and a 52 week high of $14.37. The business has a 50 day moving average price of $13.55 and a 200-day moving average price of $13.10.

Abrdn Life Sciences Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 annualized dividend and a dividend yield of 11.86%.

Institutional Trading of Abrdn Life Sciences Investors

Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Advisors LLC increased its position in shares of Abrdn Life Sciences Investors by 73.7% during the fourth quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock valued at $6,654,000 after acquiring an additional 209,708 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Abrdn Life Sciences Investors by 30.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock valued at $6,113,000 after acquiring an additional 106,539 shares during the last quarter. RPO LLC increased its position in shares of Abrdn Life Sciences Investors by 3.5% during the fourth quarter. RPO LLC now owns 338,542 shares of the company’s stock valued at $4,557,000 after acquiring an additional 11,500 shares during the last quarter. Wolverine Asset Management LLC increased its position in shares of Abrdn Life Sciences Investors by 36.8% during the third quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company’s stock valued at $4,017,000 after acquiring an additional 86,671 shares during the last quarter. Finally, AQR Arbitrage LLC increased its position in shares of Abrdn Life Sciences Investors by 89.8% during the third quarter. AQR Arbitrage LLC now owns 272,496 shares of the company’s stock valued at $3,398,000 after acquiring an additional 128,933 shares during the last quarter. 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.