Saba Capital Management, L.P. Acquires 9,704 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 9,704 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $13.71 per share, for a total transaction of $133,041.84. Following the completion of the transaction, the insider now owns 3,403,173 shares in the company, valued at approximately $46,657,501.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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, June 6th, Saba Capital Management, L.P. bought 9,598 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.80 per share, for a total transaction of $132,452.40.
• On Tuesday, June 4th, Saba Capital Management, L.P. bought 33,357 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average price of $13.50 per share, for a total transaction of $450,319.50.
• On Thursday, May 30th, Saba Capital Management, L.P. purchased 669 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.05 per share, with a total value of $8,730.45.
• On Tuesday, May 28th, Saba Capital Management, L.P. purchased 8,714 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.38 per share, with a total value of $116,593.32.
• On Thursday, May 23rd, Saba Capital Management, L.P. purchased 1,303 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.50 per share, with a total value of $17,590.50.
• On Wednesday, May 15th, Saba Capital Management, L.P. purchased 34,755 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $14.19 per share, with a total value of $493,173.45.
• On Friday, May 10th, Saba Capital Management, L.P. purchased 57,862 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.86 per share, with a total value of $801,967.32.
• On Wednesday, May 8th, Saba Capital Management, L.P. purchased 10,986 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.70 per share, with a total value of $150,508.20.
• On Monday, May 6th, Saba Capital Management, L.P. bought 10,713 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.62 per share, with a total value of $145,911.06.
• On Thursday, May 2nd, Saba Capital Management, L.P. bought 26,274 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.46 per share, with a total value of $353,648.04.

Abrdn Life Sciences Investors Stock Up 0.7 %

Shares of NYSE HQL opened at $13.89 on Thursday. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year high of $14.37. The company has a 50-day moving average of $13.45 and a two-hundred day moving average of $13.50.

Abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This is an increase from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39. This represents a $1.92 dividend on an annualized basis and a dividend yield of 13.82%.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of institutional investors have recently modified their holdings of HQL. Future Financial Wealth Managment LLC bought a new position in shares of Abrdn Life Sciences Investors in the first quarter worth about $27,000. Matisse Capital bought a new stake in shares of Abrdn Life Sciences Investors during the fourth quarter worth approximately $135,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Abrdn Life Sciences Investors by 60.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after buying an additional 3,811 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Abrdn Life Sciences Investors during the first quarter worth approximately $142,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Abrdn Life Sciences Investors during the first quarter worth approximately $143,000. 32.21% of the stock is owned by 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.