Saba Capital Management, L.P. Buys 2,022 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. purchased 2,022 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $12.88 per share, with a total value of $26,043.36. Following the completion of the transaction, the insider now directly owns 2,738,992 shares in the company, valued at approximately $35,278,216.96. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large 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 Thursday, April 18th, Saba Capital Management, L.P. purchased 81,738 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $12.80 per share, with a total value of $1,046,246.40.

Abrdn Life Sciences Investors Trading Up 1.2 %

NYSE HQL traded up $0.16 on Tuesday, reaching $13.15. The company had a trading volume of 110,364 shares, compared to its average volume of 111,501. The company’s fifty day moving average is $13.55 and its 200 day moving average is $13.10. Abrdn Life Sciences Investors has a 52-week low of $11.34 and a 52-week high of $14.37.

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 given a $0.39 dividend. This is a positive change from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.30. This represents a $1.56 dividend on an annualized basis and a yield of 11.86%. The ex-dividend date was Wednesday, February 21st.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors LLC grew its stake in Abrdn Life Sciences Investors by 73.7% in the 4th quarter. Cornerstone Advisors LLC now owns 494,340 shares of the company’s stock valued at $6,654,000 after purchasing an additional 209,708 shares during the period. RPO LLC grew its stake in Abrdn Life Sciences Investors by 75.7% in the 3rd quarter. RPO LLC now owns 327,042 shares of the company’s stock valued at $4,078,000 after purchasing an additional 140,942 shares during the period. Saba Capital Management L.P. grew its stake in Abrdn Life Sciences Investors by 98.3% in the 3rd quarter. Saba Capital Management L.P. now owns 271,607 shares of the company’s stock valued at $3,387,000 after purchasing an additional 134,644 shares during the period. Clough Capital Partners L P bought a new position in Abrdn Life Sciences Investors in the 3rd quarter valued at $1,627,000. Finally, AQR Arbitrage LLC grew its stake in Abrdn Life Sciences Investors by 89.8% in the 3rd 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 during the period. 32.21% of the stock is owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Company Profile

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.