The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Buys $71,791.31 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 7,087 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was purchased at an average price of $10.13 per share, with a total value of $71,791.31. Following the completion of the purchase, the insider directly owned 2,150,793 shares in the company, valued at $21,787,533.09. The trade was a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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, August 19th, Saba Capital Management, L.P. acquired 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.13 per share, for a total transaction 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 shares were purchased at an average price of $9.86 per share, for a total transaction of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Down 0.7%

Shares of GRX opened at $10.10 on Thursday. The Gabelli Healthcare & Wellness Trust has a 12-month low of $8.80 and a 12-month high of $10.20. The business has a 50-day simple moving average of $9.66 and a two-hundred day simple moving average of $9.41.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

Several hedge funds have recently added to or reduced their stakes in GRX. Fifth Third Bancorp bought a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new position in shares of The Gabelli Healthcare & Wellness Trust in the fourth quarter worth approximately $77,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 1st quarter valued at $90,000. Closed End Fund Advisors Inc. bought a new stake in The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at $113,000. Finally, Private Advisor Group LLC boosted its position 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 valued at $180,000 after purchasing an additional 4,000 shares in the last quarter.

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.