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

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 1,203 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $9.86 per share, for a total transaction of $11,861.58. Following the purchase, the insider owned 2,119,604 shares of the company’s stock, valued at approximately $20,899,295.44. This represents a 0.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 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 cost of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of GRX opened at $10.13 on Thursday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.17. The firm has a 50 day moving average of $9.55 and a 200 day moving average of $9.40.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.7%. The ex-dividend date is Wednesday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRX. Sit Investment Associates Inc. boosted its position in shares of The Gabelli Healthcare & Wellness Trust by 23.7% during the fourth quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company’s stock valued at $9,932,000 after buying an additional 197,594 shares during the last quarter. LPL Financial LLC raised its position in The Gabelli Healthcare & Wellness Trust by 2.1% in the 4th quarter. LPL Financial LLC now owns 291,560 shares of the investment management company’s stock worth $2,808,000 after buying an additional 5,907 shares during the last quarter. Saba Capital Management L.P. raised its position in The Gabelli Healthcare & Wellness Trust by 3.3% in the 4th quarter. Saba Capital Management L.P. now owns 2,118,201 shares of the investment management company’s stock worth $20,398,000 after buying an additional 67,166 shares during the last quarter. Evolve Private Wealth LLC bought a new position in The Gabelli Healthcare & Wellness Trust during the 4th quarter valued at about $1,722,000. Finally, NewEdge Advisors LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 4.0% during the 4th quarter. NewEdge Advisors LLC now owns 66,689 shares of the investment management company’s stock valued at $642,000 after acquiring an additional 2,568 shares during the period.

About The Gabelli Healthcare & Wellness Trust

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.