Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires $11,861.58 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 1,203 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $9.86 per share, with a total value of $11,861.58. Following the completion of the purchase, the insider directly owned 2,119,604 shares in the company, valued at approximately $20,899,295.44. This represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, August 11th, Saba Capital Management, L.P. purchased 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Trading Down 0.3%

Shares of NYSE GRX traded down $0.03 during trading hours on Monday, hitting $9.89. The stock had a trading volume of 4,012 shares, compared to its average volume of 26,995. The firm’s 50-day moving average price is $9.50 and its two-hundred day moving average price is $9.39. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.05.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 6.9%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. raised its holdings in shares of The Gabelli Healthcare & Wellness Trust by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company’s stock valued at $269,000 after purchasing an additional 2,880 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in The Gabelli Healthcare & Wellness Trust by 83.9% in the third quarter. Raymond James Financial Inc. now owns 30,974 shares of the investment management company’s stock worth $281,000 after purchasing an additional 14,132 shares in the last quarter. International Assets Investment Management LLC acquired a new position in The Gabelli Healthcare & Wellness Trust during the fourth quarter worth $77,000. Gamco Investors INC. ET AL increased its position in The Gabelli Healthcare & Wellness Trust by 9.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company’s stock worth $3,296,000 after buying an additional 30,000 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in The Gabelli Healthcare & Wellness Trust by 2.5% during the fourth quarter. Aviance Capital Partners LLC now owns 167,843 shares of the investment management company’s stock valued at $1,616,000 after buying an additional 4,164 shares in the last quarter.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end management investment company that seeks both capital appreciation and current income. The trust primarily invests in equity and equity-related securities of companies operating in the healthcare and wellness sectors. Trading on the New York Stock Exchange under the symbol GRX, the fund provides investors with exposure to growth opportunities in healthcare through its closed-end structure.

The trust’s portfolio is diversified across a broad range of healthcare sub-industries, including pharmaceuticals, biotechnology, medical devices, and healthcare services.