abrdn Life Sciences Investors (NYSE:HQL) Sets New 52-Week High – Still a Buy?

abrdn Life Sciences Investors (NYSE:HQL)’s stock price hit a new 52-week high on Monday . The company traded as high as $18.10 and last traded at $18.00, with a volume of 134715 shares traded. The stock had previously closed at $18.01.

abrdn Life Sciences Investors Stock Performance

The business’s fifty day moving average price is $16.76 and its 200-day moving average price is $16.82.

abrdn Life Sciences Investors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 20th were issued a $0.56 dividend. This is an increase from abrdn Life Sciences Investors’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 12.5%. The ex-dividend date was Friday, February 20th.

Hedge Funds Weigh In On abrdn Life Sciences Investors

Several hedge funds and other institutional investors have recently modified their holdings of HQL. Geneos Wealth Management Inc. lifted its holdings in abrdn Life Sciences Investors by 200.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,293 shares of the company’s stock valued at $29,000 after acquiring an additional 1,529 shares during the period. Global Retirement Partners LLC grew its position in abrdn Life Sciences Investors by 187.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,039 shares of the company’s stock valued at $118,000 after buying an additional 4,593 shares during the period. Cornerstone Advisors LLC purchased a new stake in abrdn Life Sciences Investors during the third quarter valued at approximately $175,000. Mercer Global Advisors Inc. ADV bought a new stake in abrdn Life Sciences Investors during the fourth quarter valued at about $177,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of abrdn Life Sciences Investors in the fourth quarter worth $199,000. 32.21% of the stock is owned by institutional investors.

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.