Formidable Asset Management LLC Has $2.66 Million Stock Position in abrdn Life Sciences Investors $HQL

Formidable Asset Management LLC grew its holdings in shares of abrdn Life Sciences Investors (NYSE:HQL) by 27.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 158,385 shares of the company’s stock after acquiring an additional 33,940 shares during the period. Formidable Asset Management LLC owned about 0.52% of abrdn Life Sciences Investors worth $2,658,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HQL. Royal Bank of Canada increased its holdings in abrdn Life Sciences Investors by 53.3% in the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock valued at $934,000 after purchasing an additional 25,542 shares during the period. NewEdge Advisors LLC lifted its holdings in abrdn Life Sciences Investors by 43.1% during the 1st quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock worth $412,000 after buying an additional 9,785 shares during the period. First Trust Advisors LP lifted its holdings in abrdn Life Sciences Investors by 112.2% during the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock worth $452,000 after buying an additional 18,674 shares during the period. Raymond James Financial Inc. grew its position in shares of abrdn Life Sciences Investors by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock valued at $4,816,000 after buying an additional 63,429 shares during the last quarter. Finally, Clough Capital Partners L P bought a new stake in shares of abrdn Life Sciences Investors in the 2nd quarter valued at about $318,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

abrdn Life Sciences Investors Price Performance

Shares of HQL stock opened at $19.32 on Monday. abrdn Life Sciences Investors has a 1-year low of $12.71 and a 1-year high of $19.40. The stock has a 50-day moving average of $17.67 and a 200-day moving average of $17.12.

abrdn Life Sciences Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, May 21st will be issued a $0.56 dividend. The ex-dividend date is Thursday, May 21st. This represents a $2.24 annualized dividend and a yield of 11.6%.

About abrdn Life Sciences Investors

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.