Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Purchases 81,738 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 81,738 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were acquired at an average price of $12.80 per share, with a total value of $1,046,246.40. Following the purchase, the insider now directly owns 2,694,511 shares of the company’s stock, valued at approximately $34,489,740.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, April 22nd, Saba Capital Management, L.P. bought 2,022 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $12.88 per share, for a total transaction of $26,043.36.

Abrdn Life Sciences Investors Trading Up 1.2 %

NYSE:HQL opened at $13.15 on Wednesday. The firm’s fifty day moving average price is $13.55 and its 200 day moving average price is $13.10. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

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

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in Abrdn Life Sciences Investors during the 1st quarter worth approximately $27,000. Matisse Capital acquired a new position in Abrdn Life Sciences Investors during the fourth quarter worth $135,000. Blue Bell Private Wealth Management LLC raised its position in Abrdn Life Sciences Investors by 60.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after acquiring an additional 3,811 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Abrdn Life Sciences Investors by 3,424.5% in the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock valued at $149,000 after acquiring an additional 10,753 shares during the period. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Abrdn Life Sciences Investors during the 4th quarter worth $150,000. Institutional investors and hedge funds own 32.21% of the company’s stock.

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.