The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Acquires 24,102 Shares of Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 24,102 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $10.13 per share, for a total transaction of $244,153.26. Following the purchase, the insider owned 2,143,706 shares of the company’s stock, valued at approximately $21,715,741.78. This trade represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 14th, Saba Capital Management, L.P. acquired 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $9.86 per share, with a total value of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. purchased 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Trading Down 1.5%

Shares of GRX stock opened at $10.00 on Friday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.17. The stock has a fifty day simple moving average of $9.57 and a two-hundred day simple moving average of $9.40.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Trading of The Gabelli Healthcare & Wellness Trust

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the first quarter worth about $33,000. International Assets Investment Management LLC purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at approximately $77,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Healthcare & Wellness Trust during the first quarter valued at $90,000. Closed End Fund Advisors Inc. acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 4th quarter worth about $113,000. Finally, Private Advisor Group LLC boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 25.2% in the first quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company’s stock worth $180,000 after acquiring an additional 4,000 shares during 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.