Saba Capital Management, L.P. Purchases 4,340 Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 4,340 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $10.05 per share, for a total transaction of $43,617.00. Following the completion of the transaction, the insider directly owned 2,155,133 shares in the company, valued at $21,659,086.65. This trade represents a 0.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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 Friday, August 21st, Saba Capital Management, L.P. bought 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $10.13 per share, for a total transaction of $71,791.31.
• On Wednesday, August 19th, Saba Capital Management, L.P. bought 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $10.13 per share, with a total value of $244,153.26.
• On Friday, August 14th, Saba Capital Management, L.P. purchased 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired 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 shares were acquired at an average cost of $9.93 per share, for a total transaction of $1,986.00.

The Gabelli Healthcare & Wellness Trust Price Performance

NYSE GRX opened at $10.06 on Friday. The business has a 50 day simple moving average of $9.70 and a 200 day simple moving average of $9.42. The Gabelli Healthcare & Wellness Trust has a 52-week low of $8.80 and a 52-week high of $10.20.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Trading of The Gabelli Healthcare & Wellness Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Sit Investment Associates Inc. raised its position in The Gabelli Healthcare & Wellness Trust by 23.7% in the 4th 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. Gamco Investors INC. ET AL lifted its position in shares of 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 purchasing an additional 3,800 shares in the last quarter. Aviance Capital Partners LLC grew its position 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 purchasing an additional 3,482 shares in the last quarter. Fifth Third Bancorp bought a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at $33,000. Finally, Private Advisor Group LLC increased its stake 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 valued at $180,000 after buying an additional 4,000 shares during 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.