Abrdn Life Sciences Investors (NYSE:HQL) Stock Position Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Abrdn Life Sciences Investors (NYSE:HQL) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 91,398 shares of the company’s stock after acquiring an additional 6,200 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Abrdn Life Sciences Investors were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Abrdn Life Sciences Investors by 6.9% in the second quarter. Cetera Investment Advisers now owns 156,384 shares of the company’s stock valued at $2,216,000 after acquiring an additional 10,137 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Abrdn Life Sciences Investors during the second quarter valued at $154,000. Future Financial Wealth Managment LLC bought a new position in shares of Abrdn Life Sciences Investors during the third quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in shares of Abrdn Life Sciences Investors in the 3rd quarter worth about $204,000. Finally, Stephens Inc. AR boosted its stake in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after purchasing an additional 896 shares during the period. Institutional investors own 32.21% of the company’s stock.

Insider Activity at Abrdn Life Sciences Investors

In other Abrdn Life Sciences Investors news, major shareholder Saba Capital Management, L.P. sold 11,674 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $14.12, for a total transaction of $164,836.88. Following the completion of the transaction, the insider now directly owns 3,418,349 shares of the company’s stock, valued at approximately $48,267,087.88. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.06% of the company’s stock.

Abrdn Life Sciences Investors Stock Performance

Shares of NYSE:HQL opened at $14.05 on Wednesday. The firm’s 50 day moving average is $13.77 and its two-hundred day moving average is $14.58. Abrdn Life Sciences Investors has a 52 week low of $12.76 and a 52 week high of $15.90.

Abrdn Life Sciences Investors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were paid a $0.50 dividend. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 14.23%.

Abrdn Life Sciences Investors 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.