abrdn Life Sciences Investors (NYSE:HQL) Short Interest Up 22.2% in March
by Michael Walen · The Markets Dailyabrdn Life Sciences Investors (NYSE:HQL – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 39,370 shares, an increase of 22.2% from the March 15th total of 32,205 shares. Based on an average daily trading volume, of 103,796 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are sold short.
abrdn Life Sciences Investors Stock Performance
HQL traded up $0.16 during trading on Friday, reaching $18.05. The company had a trading volume of 134,715 shares, compared to its average volume of 106,823. abrdn Life Sciences Investors has a 12 month low of $11.72 and a 12 month high of $18.10. The business’s fifty day moving average price is $16.76 and its 200 day moving average price is $16.80.
abrdn Life Sciences Investors Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 12.4%. This is a boost from abrdn Life Sciences Investors’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, February 20th.
Institutional Trading of abrdn Life Sciences Investors
A number of hedge funds and other institutional investors have recently made changes to their positions in HQL. Royal Bank of Canada raised its holdings in shares of abrdn Life Sciences Investors by 53.3% in the first quarter. Royal Bank of Canada now owns 73,475 shares of the company’s stock valued at $934,000 after purchasing an additional 25,542 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of abrdn Life Sciences Investors by 43.1% in the first quarter. NewEdge Advisors LLC now owns 32,500 shares of the company’s stock valued at $412,000 after purchasing an additional 9,785 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of abrdn Life Sciences Investors by 112.2% in the second quarter. First Trust Advisors LP now owns 35,321 shares of the company’s stock valued at $452,000 after purchasing an additional 18,674 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of abrdn Life Sciences Investors by 20.3% in the second quarter. Raymond James Financial Inc. now owns 375,960 shares of the company’s stock valued at $4,816,000 after purchasing an additional 63,429 shares during the last quarter. Finally, Clough Capital Partners L P acquired a new stake in shares of abrdn Life Sciences Investors in the second quarter valued at approximately $318,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.
abrdn Life Sciences Investors Company Profile
abrdn Life Sciences Investors (NYSE: HQL) is a closed-end management investment company that seeks capital appreciation through investment in the life sciences sector. Established in 1994, the trust focuses on equity and equity-related securities of companies engaged in biotechnology, pharmaceuticals, medical devices, diagnostics and related fields. Its closed-end structure allows portfolio managers to maintain a stable pool of capital, pursue long-term investment strategies and employ leverage when deemed appropriate.
The fund’s portfolio spans both public and private companies, with an emphasis on businesses driving innovation in drug development, gene therapy, precision medicine and healthcare technology.