Saba Capital Management, L.P. Sells 42,987 Shares of Abrdn Life Sciences Investors (NYSE:HQL) Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 42,987 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $13.95, for a total value of $599,668.65. Following the completion of the transaction, the insider now directly owns 3,332,473 shares of the company’s stock, valued at $46,487,998.35. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Monday, February 3rd, Saba Capital Management, L.P. sold 1,846 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38.
• On Friday, January 31st, Saba Capital Management, L.P. sold 15,143 shares of Abrdn Life Sciences Investors stock. The shares were sold at an average price of $14.27, for a total transaction of $216,090.61.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 11,674 shares of Abrdn Life Sciences Investors stock. The stock was sold at an average price of $14.12, for a total value of $164,836.88.

Abrdn Life Sciences Investors Stock Performance

Shares of Abrdn Life Sciences Investors stock traded down $0.03 during trading on Wednesday, reaching $13.75. The company’s stock had a trading volume of 123,572 shares, compared to its average volume of 128,006. The company has a 50-day moving average price of $13.75 and a two-hundred day moving average price of $14.53. Abrdn Life Sciences Investors has a fifty-two week low of $12.76 and a fifty-two week high of $15.90.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of institutional investors have recently added to or reduced their stakes in HQL. Stephens Inc. AR boosted its stake in shares of Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock worth $192,000 after acquiring an additional 896 shares in the last quarter. Commonwealth Equity Services LLC boosted its position 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 worth $395,000 after purchasing an additional 933 shares in the last quarter. Kapstone Financial Advisors LLC grew its holdings in Abrdn Life Sciences Investors by 11.0% in the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after purchasing an additional 1,300 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Abrdn Life Sciences Investors by 11.4% in the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock valued at $183,000 after buying an additional 1,355 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in shares of Abrdn Life Sciences Investors during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

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.