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Saba Capital Sells 23,729 Shares of abrdn Life Sciences Investors on 2025-05-15
ByAinvest
Monday, May 19, 2025 6:51 pm ET1min read
ABRDN Life Sciences Investors (HQL) has announced that a 10% owner, Saba Capital Management, L.P., has sold a total of 23,729 shares at a price of $12.08 per share on May 15, 2025.
Saba Capital Management L.P., a significant institutional investor, has announced the sale of 23,729 shares of Abrdn Healthcare Investors (NYSE:HQH) at a price of $12.08 per share on May 15, 2025. This transaction represents a reduction in Saba's holding, which previously constituted approximately 0.7% of its total portfolio [1].The sale comes on the heels of Saba Capital Management L.P. reducing its overall position in Abrdn Healthcare Investors by 31.3% during the fourth quarter of 2024. At the end of that period, Saba owned about 1,971,659 shares of the financial services provider's stock, down from 2,871,942 shares [1]. This latest sale further cements the institution's decision to scale back its investment in Abrdn Healthcare Investors.
The stock sale is part of broader institutional activity surrounding Abrdn Healthcare Investors. Other notable investors have also made significant changes to their positions in the company. Raymond James Financial Inc. acquired a new position valued at $15,049,000, while Wolverine Asset Management LLC increased its stake by $2,196,000. LPL Financial LLC boosted its position by 65.3% and now owns 282,020 shares worth $4,526,000. Absolute Investment Advisers LLC and Oppenheimer & Co. Inc. also increased their stakes in the company [1].
Abrdn Healthcare Investors, a closed-ended equity mutual fund managed by abrdn Inc., invests in public equity markets across the globe, focusing on the healthcare sector. The company's stock has shown mixed performance, with a 50-day simple moving average of $15.73 and a 200-day simple moving average of $16.80. The stock opened at $15.72 on May 17, 2025, and has a twelve-month range of $13.77 to $19.79 [1].
References:
[1] https://www.marketbeat.com/instant-alerts/saba-capital-management-lp-trims-holdings-in-abrdn-healthcare-investors-nysehqh-2025-05-17/
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