Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 48,623 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. sold 48,623 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.58, for a total transaction of $611,677.34. Following the sale, the insider now owns 3,188,405 shares of the company’s stock, valued at approximately $40,110,134.90. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more 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, March 27th, Saba Capital Management, L.P. sold 32,922 shares of Abrdn Life Sciences Investors stock. The shares were 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 value 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 value 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 stock was 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 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 transaction of $164,836.88.

Abrdn Life Sciences Investors Price Performance

NYSE HQL opened at $12.31 on Thursday. The stock has a 50-day moving average of $13.51 and a 200-day moving average of $14.06. Abrdn Life Sciences Investors has a 1-year low of $12.17 and a 1-year high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a $0.47 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 15.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HQL. Absolute Investment Advisers LLC bought a new stake in Abrdn Life Sciences Investors during the 4th quarter valued at $5,242,000. Raymond James Financial Inc. bought a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at about $3,129,000. LPL Financial LLC grew its stake in shares of Abrdn Life Sciences Investors by 82.0% in the fourth quarter. LPL Financial LLC now owns 287,095 shares of the company’s stock worth $3,767,000 after purchasing an additional 129,313 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter worth about $1,594,000. Finally, Jane Street Group LLC purchased a new position in Abrdn Life Sciences Investors during the 4th quarter valued at about $290,000. 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.