The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock: Insider Saba Capital Management, L.P. Acquires 4,439 Shares

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 4,439 shares of the stock in a transaction on Tuesday, October 6th. The stock was purchased at an average price of $9.41 per share, with a total value of $41,770.99. Following the completion of the acquisition, the insider directly owned 2,168,986 shares in the company, valued at approximately $20,410,158.26. This trade represents a 0.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, October 5th, Saba Capital Management, L.P. purchased 1,775 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $9.38 per share, with a total value of $16,649.50.
• On Thursday, October 1st, Saba Capital Management, L.P. acquired 5,720 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.41 per share, with a total value of $53,825.20.
• On Friday, October 2nd, Saba Capital Management, L.P. purchased 500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.35 per share, for a total transaction of $4,675.00.
• On Wednesday, September 30th, Saba Capital Management, L.P. bought 519 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.52 per share, with a total value of $4,940.88.
• On Friday, September 11th, Saba Capital Management, L.P. acquired 400 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $9.71 per share, with a total value of $3,884.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. purchased 500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $10.08 per share, with a total value of $5,040.00.
• On Thursday, August 27th, Saba Capital Management, L.P. purchased 4,340 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $10.05 per share, for a total transaction of $43,617.00.
• On Friday, August 21st, Saba Capital Management, L.P. bought 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $10.13 per share, for a total transaction of $71,791.31.
• On Wednesday, August 19th, Saba Capital Management, L.P. acquired 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $10.13 per share, with a total value of $244,153.26.
• On Friday, August 14th, Saba Capital Management, L.P. acquired 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.86 per share, for a total transaction of $11,861.58.

The Gabelli Healthcare & Wellness Trust Price Performance

GRX traded up $0.03 during midday trading on Thursday, hitting $9.45. 1,011 shares of the company were exchanged, compared to its average volume of 26,273. The Gabelli Healthcare & Wellness Trust has a 1-year low of $8.80 and a 1-year high of $10.20. The company’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $9.43.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.2%.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Large investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust in the first quarter worth approximately $90,000. Gamco Investors INC. ET AL boosted its stake in The Gabelli Healthcare & Wellness Trust by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company’s stock worth $3,132,000 after buying an additional 3,800 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of The Gabelli Healthcare & Wellness Trust by 2.1% in the 1st quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company’s stock worth $1,550,000 after acquiring an additional 3,482 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $33,000. Finally, Private Advisor Group LLC increased its holdings in shares of The Gabelli Healthcare & Wellness Trust by 25.2% during the 1st quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company’s stock worth $180,000 after buying an additional 4,000 shares during the last quarter.

About The Gabelli Healthcare & Wellness Trust

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a diversified, closed-end investment company focused on long-term growth of capital. Rather than operating healthcare facilities or selling consumer products, the trust invests in publicly traded companies involved in healthcare and wellness.

Its portfolio may include businesses across areas such as pharmaceuticals, biotechnology, medical devices, healthcare services, managed care, diagnostics, consumer health and wellness products, and related industries.