Insider Selling: Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Sells 36,536 Shares of Stock

On February 12th, major shareholder Saba Capital Management, L.P. executed a sale of 36,536 shares of Abrdn Life Sciences Investors (NYSE:HQL). The shares were sold at an average price of $13.75, culminating in a total transaction amount of $502,370. Following this transaction, Saba Capital Management now holds a total of 3,276,181 shares, valued at roughly $45,047,488.75. This sale represents a 1.10% decrease in their ownership of the company’s stock. Details of the sale were recorded in a legal filing with the Securities & Exchange Commission (SEC), accessible for public review.

In addition to this recent transaction, Saba Capital Management has made several other trades involving Abrdn Life Sciences Investors stock:

• On February 10th, 2021, Saba Capital sold 42,987 shares at an average price of $13.95, totaling $599,668.65.
• On February 3rd, 2021, the firm sold 1,846 shares at an average price of $14.03 for a transaction worth $25,899.38.
• On January 31st, 2021, the sale of 15,143 shares was completed at an average price of $14.27, with total proceeds of $216,090.61.
• On January 29th, 2021, Saba Capital Management sold 11,674 shares at an average price of $14.12, resulting in $164,836.88.

Current Performance of Abrdn Life Sciences Investors

As of mid-day trading on Thursday, Abrdn Life Sciences Investors stock showed an increase of 1.2%, reaching $13.97. The trading volume for the day was 113,078 shares, which is below the average volume of 128,979. Over the last year, the stock has ranged from a low of $12.76 to a high of $15.90. Currently, the 50-day and 200-day simple moving averages stand at $13.74 and $14.53, respectively.

Dividend Announcement from Abrdn Life Sciences Investors

The company has also revealed plans for a quarterly dividend payout, scheduled for payment on March 31st. Shareholders who are on record as of February 21st will receive a dividend of $0.47 per share, resulting in an annualized dividend of $1.88 and a yield of 13.46%.

Institutional Investments in Abrdn Life Sciences Investors

Several institutional investors have made notable moves in Abrdn Life Sciences Investors shares recently. Penserra Capital Management LLC initiated a new position during the third quarter valued at around $11,702,000. Absolute Investment Advisers LLC also acquired shares in the fourth quarter with an investment of approximately $5,242,000. Additionally, Needham Investment Management LLC increased its holdings by 3.2% during the third quarter and now possesses 352,719 shares valued at $5,319,000 after acquiring 10,904 more shares. Another investor, LPL Financial LLC, expanded its stake by 82.0% in the fourth quarter, now holding 287,095 shares worth $3,767,000 after a purchase of 129,313 shares. Finally, Raymond James Financial Inc. started a new position in the fourth quarter approximated at $3,129,000. Currently, institutional and hedge funds own about 32.21% of the stock.

About Abrdn Life Sciences Investors

Abrdn Life Sciences Investors is a closed-ended equity mutual fund managed by abrdn Inc. The fund invests in public equity markets across the globe, specifically targeting stocks in the life sciences sector, including biotechnology, pharmaceuticals, diagnostics, managed healthcare, medical equipment, hospitals, healthcare information technology and services, as well as companies within the agriculture and environmental management industries.

Insider, Trading, Shares