Tekla Life Sciences Investors (NYSE:HQL) Sees Large Drop in Short Interest

Tekla Life Sciences Investors (NYSE:HQL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 26,900 shares, a decrease of 40.5% from the August 15th total of 45,200 shares. Based on an average trading volume of 67,600 shares, the days-to-cover ratio is presently 0.4 days.

In related news, President Daniel R. Omstead purchased 6,403 shares of the firm’s stock in a transaction on Wednesday, August 11th. The stock was purchased at an average price of $21.63 per share, for a total transaction of $138,496.89. Following the acquisition, the president now directly owns 146,489 shares in the company, valued at $3,168,557.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.06% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HQL. Barclays PLC purchased a new position in shares of Tekla Life Sciences Investors during the 1st quarter valued at approximately $35,000. Meeder Asset Management Inc. purchased a new position in shares of Tekla Life Sciences Investors during the 2nd quarter valued at approximately $39,000. Advisory Services Network LLC purchased a new position in shares of Tekla Life Sciences Investors during the 2nd quarter valued at approximately $58,000. Bessemer Group Inc. boosted its stake in shares of Tekla Life Sciences Investors by 13.8% during the 1st quarter. Bessemer Group Inc. now owns 7,730 shares of the company’s stock valued at $152,000 after buying an additional 937 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Tekla Life Sciences Investors by 430.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,439 shares of the company’s stock valued at $181,000 after buying an additional 6,847 shares during the last quarter. Hedge funds and other institutional investors own 17.09% of the company’s stock.

NYSE HQL traded down $0.05 on Friday, reaching $21.75. The company had a trading volume of 47,424 shares, compared to its average volume of 78,444. Tekla Life Sciences Investors has a 1 year low of $16.60 and a 1 year high of $22.70. The firm has a 50-day moving average of $21.48 and a 200-day moving average of $20.67.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, August 27th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend is Thursday, August 26th. This is a boost from Tekla Life Sciences Investors’s previous quarterly dividend of $0.41.

Tekla Life Sciences Investors Company Profile

Tekla Life Sciences Investors operates as a closed-end investment fund or Investment trust. The firm engages in the investment in the life sciences industry. It invests in biotechnology, pharmaceutical, diagnostics, managed healthcare, medical equipment, hospitals and healthcare information technology and services.

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