The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Acquires 11,312 Shares

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 11,312 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $9.37 per share, with a total value of $105,993.44. Following the transaction, the insider directly owned 2,114,117 shares of the company’s stock, valued at approximately $19,809,276.29. This represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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 Wednesday, December 17th, Saba Capital Management, L.P. acquired 4,084 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.36 per share, for a total transaction of $38,226.24.
• On Tuesday, November 25th, Saba Capital Management, L.P. bought 14,451 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $9.62 per share, with a total value of $139,018.62.
• On Thursday, October 23rd, Saba Capital Management, L.P. purchased 20,808 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.28 per share, for a total transaction of $193,098.24.
• On Wednesday, October 22nd, Saba Capital Management, L.P. acquired 1,053 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.31 per share, with a total value of $9,803.43.
• On Tuesday, October 21st, Saba Capital Management, L.P. bought 6,122 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.29 per share, for a total transaction of $56,873.38.

The Gabelli Healthcare & Wellness Trust Stock Up 1.3%

Shares of GRX traded up $0.13 during trading hours on Thursday, hitting $9.47. The stock had a trading volume of 35,298 shares, compared to its average volume of 28,116. The company’s fifty day moving average is $9.40 and its two-hundred day moving average is $9.38. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.93 and a 52 week high of $10.48.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Friday, December 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Uhlmann Price Securities LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 23.2% in the second quarter. Uhlmann Price Securities LLC now owns 30,498 shares of the investment management company’s stock valued at $288,000 after acquiring an additional 5,748 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in The Gabelli Healthcare & Wellness Trust by 103.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,768 shares of the investment management company’s stock worth $489,000 after purchasing an additional 25,848 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in The Gabelli Healthcare & Wellness Trust by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,109 shares of the investment management company’s stock valued at $3,529,000 after purchasing an additional 7,883 shares during the period. Stephens Inc. AR boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 1.5% in the 2nd quarter. Stephens Inc. AR now owns 109,812 shares of the investment management company’s stock valued at $1,038,000 after purchasing an additional 1,632 shares during the last quarter. Finally, Traub Capital Management LLC acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 2nd quarter worth approximately $1,142,000.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare and Wellness Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets across the globe. The fund seeks to invest in stocks of companies primarily operating in the healthcare and wellness sector.