Cambridge Investment Research Advisors Inc. Takes $134,000 Position in abrdn Life Sciences Investors (NYSE:HQL)

Cambridge Investment Research Advisors Inc. purchased a new position in abrdn Life Sciences Investors (NYSE:HQL) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,522 shares of the company’s stock, valued at approximately $134,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in abrdn Life Sciences Investors in the fourth quarter worth $3,129,000. LPL Financial LLC boosted its holdings in abrdn Life Sciences Investors by 82.0% in the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock worth $3,767,000 after purchasing an additional 129,313 shares during the period. Jane Street Group LLC acquired a new position in abrdn Life Sciences Investors in the fourth quarter worth $290,000. Guggenheim Capital LLC acquired a new position in abrdn Life Sciences Investors in the fourth quarter worth $211,000. Finally, Landscape Capital Management L.L.C. acquired a new position in abrdn Life Sciences Investors in the fourth quarter worth $154,000. Institutional investors own 32.21% of the company’s stock.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 23,729 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $12.08, for a total transaction of $286,646.32. Following the completion of the transaction, the insider owned 3,028,958 shares of the company’s stock, valued at approximately $36,589,812.64. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 46,988 shares of company stock worth $572,338 over the last three months. Insiders own 10.06% of the company’s stock.

abrdn Life Sciences Investors Stock Up 0.2%

abrdn Life Sciences Investors stock opened at $13.11 on Tuesday. The company has a fifty day moving average price of $12.62 and a two-hundred day moving average price of $12.92. abrdn Life Sciences Investors has a 12 month low of $10.55 and a 12 month high of $15.90.

abrdn Life Sciences Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 22nd were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 13.12%. The ex-dividend date of this dividend was Thursday, May 22nd.

About abrdn Life Sciences Investors

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.