Short Interest in Abrdn Life Sciences Investors (NYSE:HQL) Increases By 100.8%

Abrdn Life Sciences Investors (NYSE:HQL) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 49,600 shares, an increase of 100.8% from the January 31st total of 24,700 shares. Based on an average daily volume of 126,000 shares, the days-to-cover ratio is presently 0.4 days.

Abrdn Life Sciences Investors Stock Up 0.7 %

NYSE HQL traded up $0.10 during midday trading on Friday, hitting $13.45. 87,009 shares of the company traded hands, compared to its average volume of 131,759. The company’s 50-day simple moving average is $13.73 and its 200-day simple moving average is $14.42. Abrdn Life Sciences Investors has a 52 week low of $12.76 and a 52 week high of $15.90.

Abrdn Life Sciences Investors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.88 annualized dividend and a yield of 13.98%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 15,143 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $14.27, for a total value of $216,090.61. Following the transaction, the insider now owns 3,381,371 shares of the company’s stock, valued at $48,252,164.17. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 108,386 shares of company stock valued at $1,511,590 over the last quarter. 10.06% of the stock is owned by corporate insiders.

Institutional Trading of Abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently bought and sold shares of HQL. International Assets Investment Management LLC bought a new stake in Abrdn Life Sciences Investors during the 3rd quarter valued at $204,000. Stephens Inc. AR boosted its position in Abrdn Life Sciences Investors by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 12,707 shares of the company’s stock valued at $192,000 after acquiring an additional 896 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Abrdn Life Sciences Investors during the 3rd quarter valued at $148,000. Kapstone Financial Advisors LLC bought a new stake in Abrdn Life Sciences Investors during the 3rd quarter valued at $177,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Abrdn Life Sciences Investors during the 3rd quarter valued at $11,702,000. Institutional investors own 32.21% of the company’s stock.

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.