Abrdn Life Sciences Investors (NYSE:HQL) Sees Significant Growth in Short Interest

Abrdn Life Sciences Investors (NYSE:HQL) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 76,300 shares, a growth of 26.3% from the March 15th total of 60,400 shares. Based on an average daily trading volume, of 135,500 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the company’s shares are sold short.

Insider Activity at Abrdn Life Sciences Investors

In related news, major shareholder Saba Capital Management, L.P. sold 15,143 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $14.27, for a total value of $216,090.61. Following the completion of the transaction, the insider now directly owns 3,381,371 shares in the company, valued at approximately $48,252,164.17. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 280,622 shares of company stock valued at $3,612,033. Company insiders own 10.06% of the company’s stock.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Large investors have recently modified their holdings of the company. BankPlus Trust Department acquired a new stake in Abrdn Life Sciences Investors during the 4th quarter worth approximately $28,000. 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 acquiring an additional 3,847 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Abrdn Life Sciences Investors in the 1st quarter valued at $131,000. Landscape Capital Management L.L.C. acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter valued at $154,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Abrdn Life Sciences Investors during the 4th quarter worth $160,000. 32.21% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Life Sciences Investors Stock Performance

Abrdn Life Sciences Investors stock opened at $11.76 on Tuesday. Abrdn Life Sciences Investors has a 1 year low of $10.55 and a 1 year high of $15.90. The firm has a 50 day moving average price of $12.74 and a 200 day moving average price of $13.67.

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 given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 15.99%. The ex-dividend date of this dividend was Friday, February 21st.

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.