Insider Buying: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder 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 business’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $26,043.36. Following the completion of the transaction, the insider now owns 2,738,992 shares in the company, valued at approximately $35,278,216.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 shares were purchased at an average cost of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Stock Up 1.2 %

Abrdn Life Sciences Investors stock opened at $13.15 on Wednesday. The stock’s 50 day simple moving average is $13.55 and its two-hundred day simple moving average is $13.10. Abrdn Life Sciences Investors has a fifty-two week low of $11.34 and a fifty-two week high of $14.37.

Abrdn Life Sciences Investors Increases Dividend

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

Institutional Trading of Abrdn Life Sciences Investors

Several large investors have recently bought and sold shares of HQL. Future Financial Wealth Managment LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 1st quarter worth approximately $27,000. Matisse Capital bought a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $135,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Abrdn Life Sciences Investors by 60.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after purchasing an additional 3,811 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Abrdn Life Sciences Investors by 3,424.5% in the 4th quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock worth $149,000 after purchasing an additional 10,753 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new stake in shares of Abrdn Life Sciences Investors in the 4th quarter worth approximately $150,000. 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.