Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Acquires 81,738 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. acquired 81,738 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average price of $12.80 per share, for a total transaction of $1,046,246.40. Following the completion of the acquisition, the insider now owns 2,694,511 shares in the company, valued at approximately $34,489,740.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Abrdn Life Sciences Investors Stock Performance

NYSE HQL opened at $12.98 on Tuesday. The stock’s 50 day simple moving average is $13.57 and its 200-day simple moving average is $13.09. Abrdn Life Sciences Investors has a 1-year low of $11.34 and a 1-year 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 issued a $0.39 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.56 dividend on an annualized basis and a yield of 12.02%. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently modified their holdings of the business. Cornerstone Advisors LLC lifted its stake in shares of Abrdn Life Sciences Investors by 73.7% in the fourth quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock worth $6,654,000 after buying an additional 209,708 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Abrdn Life Sciences Investors by 30.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 454,154 shares of the company’s stock valued at $6,113,000 after acquiring an additional 106,539 shares during the last quarter. RPO LLC lifted its stake in Abrdn Life Sciences Investors by 3.5% in the 4th quarter. RPO LLC now owns 338,542 shares of the company’s stock worth $4,557,000 after purchasing an additional 11,500 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of Abrdn Life Sciences Investors by 36.8% in the third quarter. Wolverine Asset Management LLC now owns 322,158 shares of the company’s stock valued at $4,017,000 after purchasing an additional 86,671 shares in the last quarter. Finally, AQR Arbitrage LLC grew its position in shares of Abrdn Life Sciences Investors by 89.8% in the third quarter. AQR Arbitrage LLC now owns 272,496 shares of the company’s stock valued at $3,398,000 after purchasing an additional 128,933 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.