abrdn Life Sciences Investors (NYSE:HQL) Sees Large Volume Increase – Still a Buy?

abrdn Life Sciences Investors (NYSE:HQL) shares saw unusually-strong trading volume on Friday . 132,785 shares changed hands during trading, an increase of 10% from the previous session’s volume of 121,058 shares.The stock last traded at $19.2850 and had previously closed at $19.63.

abrdn Life Sciences Investors Price Performance

The company has a 50-day simple moving average of $18.53 and a two-hundred day simple moving average of $17.54.

abrdn Life Sciences Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date was Thursday, May 21st.

Institutional Investors Weigh In On abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently modified their holdings of HQL. Royal Bank of Canada grew its stake in abrdn Life Sciences Investors by 53.3% in the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock worth $934,000 after purchasing an additional 25,542 shares during the period. NewEdge Advisors LLC lifted its position in abrdn Life Sciences Investors by 43.1% during the first quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock valued at $412,000 after buying an additional 9,785 shares during the period. First Trust Advisors LP boosted its holdings in shares of abrdn Life Sciences Investors by 112.2% during the 2nd quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock valued at $452,000 after buying an additional 18,674 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of abrdn Life Sciences Investors by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock worth $4,816,000 after buying an additional 63,429 shares during the period. Finally, Clough Capital Partners L P purchased a new stake in shares of abrdn Life Sciences Investors in the 2nd quarter worth about $318,000. Institutional investors own 32.21% of the company’s stock.

abrdn Life Sciences Investors Company Profile

abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.

The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.