Estudiándolo
Estudiándolo is the non-finite verb form formed from the verb estudiar (to study) in the gerund, plus the clitic pronoun lo. It expresses an ongoing action of studying a thing, with the object referenced by the attached pronoun. This construction is a common feature of Spanish clitic usage with non-finite verbs and is found in both spoken and written language.
In standard Spanish, the gerund can take attached pronouns to indicate the object of the action, especially
Estudiándolo can also function as a participial clause: Estudiándolo, aprendió la materia. This use is common