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

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 24,102 shares of the stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $10.13 per share, with a total value of $244,153.26. Following the completion of the acquisition, the insider owned 2,143,706 shares of the company’s stock, valued at $21,715,741.78. This represents a 1.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 Friday, August 14th, Saba Capital Management, L.P. bought 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price 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 stock was bought at an average cost of $9.93 per share, for a total transaction of $1,986.00.

The Gabelli Healthcare & Wellness Trust Trading Down 0.7%

GRX stock traded down $0.07 during midday trading on Thursday, reaching $10.08. 8,276 shares of the company’s stock traded hands, compared to its average volume of 27,300. The company has a 50-day moving average price of $9.55 and a two-hundred day moving average price of $9.40. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.17.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The Gabelli Healthcare & Wellness Trust in the 1st quarter worth approximately $90,000. Gamco Investors INC. ET AL lifted its stake in The Gabelli Healthcare & Wellness Trust by 1.1% in 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 acquiring an additional 3,800 shares during the period. Aviance Capital Partners LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 2.1% in the first quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company’s stock valued at $1,550,000 after acquiring an additional 3,482 shares in the last quarter. Fifth Third Bancorp bought a new stake in The Gabelli Healthcare & Wellness Trust in the first quarter valued at $33,000. Finally, Private Advisor Group LLC raised its holdings in The Gabelli Healthcare & Wellness Trust by 25.2% in the 1st quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company’s stock worth $180,000 after purchasing an additional 4,000 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.