Abrdn Life Sciences Investors (NYSE:HQL) Major Shareholder Saba Capital Management, L.P. Purchases 13,812 Shares of Stock

Abrdn Life Sciences Investors (NYSE:HQL) major shareholder Saba Capital Management, L.P. bought 13,812 shares of Abrdn Life Sciences Investors stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average cost of $14.08 per share, for a total transaction of $194,472.96. Following the purchase, the insider now owns 3,429,891 shares of the company’s stock, valued at $48,292,865.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Wednesday, June 12th, Saba Capital Management, L.P. acquired 2,400 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average price of $13.88 per share, with a total value of $33,312.00.
• On Monday, June 10th, Saba Capital Management, L.P. acquired 9,704 shares of Abrdn Life Sciences Investors stock. The shares were purchased at an average cost of $13.71 per share, for a total transaction of $133,041.84.
• On Thursday, June 6th, Saba Capital Management, L.P. bought 9,598 shares of Abrdn Life Sciences Investors stock. The stock was purchased at an average cost of $13.80 per share, with a total value of $132,452.40.
• On Tuesday, June 4th, Saba Capital Management, L.P. purchased 33,357 shares of Abrdn Life Sciences Investors stock. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $450,319.50.
• On Thursday, May 30th, Saba Capital Management, L.P. acquired 669 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average cost of $13.05 per share, with a total value of $8,730.45.
• On Tuesday, May 28th, Saba Capital Management, L.P. bought 8,714 shares of Abrdn Life Sciences Investors stock. The stock was acquired at an average price of $13.38 per share, for a total transaction of $116,593.32.
• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 1,303 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average cost of $13.50 per share, for a total transaction of $17,590.50.
• On Wednesday, May 15th, Saba Capital Management, L.P. acquired 34,755 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average price of $14.19 per share, for a total transaction of $493,173.45.
• On Friday, May 10th, Saba Capital Management, L.P. bought 57,862 shares of Abrdn Life Sciences Investors stock. The shares were bought at an average price of $13.86 per share, with a total value of $801,967.32.
• On Wednesday, May 8th, Saba Capital Management, L.P. purchased 10,986 shares of Abrdn Life Sciences Investors stock. The stock was bought at an average cost of $13.70 per share, for a total transaction of $150,508.20.

Abrdn Life Sciences Investors Price Performance

NYSE:HQL opened at $14.19 on Wednesday. Abrdn Life Sciences Investors has a fifty-two week low of $11.34 and a fifty-two week high of $14.37. The business has a 50 day moving average price of $13.58 and a 200-day moving average price of $13.62.

Abrdn Life Sciences Investors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.92 annualized dividend and a yield of 13.54%. This is a boost from Abrdn Life Sciences Investors’s previous quarterly dividend of $0.39.

Institutional Investors Weigh In On Abrdn Life Sciences Investors

A number of large investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the first quarter worth about $27,000. Matisse Capital bought a new position in Abrdn Life Sciences Investors during the 4th quarter valued at approximately $135,000. Blue Bell Private Wealth Management LLC lifted its holdings in Abrdn Life Sciences Investors by 60.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 10,125 shares of the company’s stock worth $136,000 after buying an additional 3,811 shares during the period. Eudaimonia Partners LLC bought a new stake in shares of Abrdn Life Sciences Investors in the 1st quarter worth approximately $142,000. Finally, International Assets Investment Management LLC increased its stake in shares of Abrdn Life Sciences Investors by 3,424.5% during the fourth quarter. International Assets Investment Management LLC now owns 11,067 shares of the company’s stock valued at $149,000 after buying an additional 10,753 shares during the period. 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.