Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Grows By 26.3%

Abrdn Life Sciences Investors (NYSE:HQLGet Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 76,300 shares, an increase of 26.3% from the March 15th total of 60,400 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 135,500 shares, the days-to-cover ratio is currently 0.6 days.

Abrdn Life Sciences Investors Price Performance

HQL stock traded down $0.10 during trading on Monday, hitting $11.72. 59,597 shares of the company’s stock traded hands, compared to its average volume of 100,960. The business has a fifty day simple moving average of $12.78 and a 200 day simple moving average of $13.69. Abrdn Life Sciences Investors has a 52 week low of $10.55 and a 52 week 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 paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 16.04%.

Insider Buying and Selling at Abrdn Life Sciences Investors

In other news, major shareholder Saba Capital Management, L.P. sold 1,846 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.03, for a total transaction of $25,899.38. Following the completion of the transaction, the insider now directly owns 3,379,525 shares in the company, valued at approximately $47,414,735.75. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 280,622 shares of company stock valued at $3,612,033 in the last three months. 10.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abrdn Life Sciences Investors

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC boosted its stake in Abrdn Life Sciences Investors by 11.4% during the third quarter. Sanctuary Advisors LLC now owns 13,256 shares of the company’s stock worth $183,000 after buying an additional 1,355 shares during the period. Janney Montgomery Scott LLC raised its position in Abrdn Life Sciences Investors by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,398 shares of the company’s stock worth $1,199,000 after purchasing an additional 6,200 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Abrdn Life Sciences Investors in the fourth quarter worth about $160,000. Absolute Investment Advisers LLC purchased a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $5,242,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Abrdn Life Sciences Investors during the fourth quarter valued at approximately $1,594,000. Hedge funds and other institutional investors own 32.21% of the company’s stock.

Abrdn Life Sciences Investors Company Profile

(Get Free Report)

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.

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