Raymond James Financial Inc. Acquires New Holdings in Abrdn Life Sciences Investors (NYSE:HQL)

Raymond James Financial Inc. purchased a new position in shares of Abrdn Life Sciences Investors (NYSE:HQL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 238,470 shares of the company’s stock, valued at approximately $3,129,000. Raymond James Financial Inc. owned about 0.87% of Abrdn Life Sciences Investors at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. BankPlus Trust Department bought a new position in shares of Abrdn Life Sciences Investors in the fourth quarter worth about $28,000. Steward Partners Investment Advisory LLC grew its holdings 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 purchasing an additional 3,847 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Abrdn Life Sciences Investors in the fourth quarter valued at approximately $160,000. Kapstone Financial Advisors LLC increased its stake in shares of Abrdn Life Sciences Investors by 11.0% during the fourth quarter. Kapstone Financial Advisors LLC now owns 13,123 shares of the company’s stock valued at $185,000 after buying an additional 1,300 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in shares of Abrdn Life Sciences Investors by 11.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after purchasing an additional 1,355 shares during the period. Institutional investors own 32.21% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 36,536 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $13.75, for a total value of $502,370.00. Following the transaction, the insider now owns 3,276,181 shares in the company, valued at approximately $45,047,488.75. This represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 108,386 shares of company stock worth $1,511,590 in the last ninety days. 10.06% of the stock is owned by insiders.

Abrdn Life Sciences Investors Trading Down 0.7 %

Shares of NYSE:HQL opened at $12.89 on Friday. The business’s fifty day simple moving average is $13.58 and its 200-day simple moving average is $14.12. Abrdn Life Sciences Investors has a 12-month low of $12.69 and a 12-month high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be paid a $0.47 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 14.59%.

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.