Saba Capital Management, L.P. Buys 20,529 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 20,529 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $13.12 per share, for a total transaction of $269,340.48. Following the acquisition, the insider now owns 2,807,724 shares of the company’s stock, valued at approximately $36,837,338.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Monday, April 22nd, Saba Capital Management, L.P. purchased 2,022 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $12.88 per share, for a total transaction of $26,043.36.
• On Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $12.80 per share, for a total transaction of $1,046,246.40.

Abrdn Life Sciences Investors Price Performance

NYSE HQL opened at $12.97 on Friday. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37. The business’s 50-day moving average price is $13.47 and its 200 day moving average price is $13.10.

Abrdn Life Sciences Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.03%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in HQL. Future Financial Wealth Managment LLC purchased a new stake in Abrdn Life Sciences Investors in the 1st quarter valued at approximately $27,000. Matisse Capital purchased a new stake in Abrdn Life Sciences Investors in the 4th quarter valued at approximately $135,000. Blue Bell Private Wealth Management LLC boosted its holdings in 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 valued at $136,000 after purchasing an additional 3,811 shares in the last quarter. Eudaimonia Partners LLC purchased a new stake in Abrdn Life Sciences Investors in the 1st quarter valued at approximately $142,000. Finally, International Assets Investment Management LLC boosted its holdings in 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 valued at $149,000 after purchasing an additional 10,753 shares in the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.