Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 29,102 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 29,102 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $12.28, for a total value of $357,372.56. Following the completion of the sale, the insider now directly owns 3,141,682 shares of the company’s stock, valued at $38,579,854.96. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, March 31st, Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $12.58, for a total value of $611,677.34.
• On Thursday, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.01, for a total transaction of $428,315.22.
• On Wednesday, February 26th, Saba Capital Management, L.P. sold 200 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.62, for a total transaction of $2,724.00.
• On Wednesday, February 12th, Saba Capital Management, L.P. sold 36,536 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $13.75, for a total transaction of $502,370.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 42,987 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $13.95, for a total value of $599,668.65.
• On Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.03, for a total value of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.27, for a total value of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Price Performance

Shares of Abrdn Life Sciences Investors stock opened at $11.43 on Friday. The company’s 50-day moving average price is $13.42 and its 200-day moving average price is $14.02. Abrdn Life Sciences Investors has a 12-month low of $11.41 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 16.45%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in Abrdn Life Sciences Investors by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,119 shares of the company’s stock valued at $395,000 after buying an additional 933 shares during the period. Kapstone Financial Advisors LLC boosted its position in shares of Abrdn Life Sciences Investors by 11.0% during the 4th quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after acquiring an additional 1,300 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Abrdn Life Sciences Investors by 11.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after acquiring an additional 1,355 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter worth about $28,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Abrdn Life Sciences Investors by 379.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,860 shares of the company’s stock worth $64,000 after purchasing an additional 3,847 shares during the last quarter. 32.21% of the stock is currently 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.