Short Interest in The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Grows By 340.0%

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 17,600 shares, an increase of 340.0% from the May 15th total of 4,000 shares. Based on an average daily trading volume, of 20,000 shares, the days-to-cover ratio is currently 0.9 days.

The Gabelli Healthcare & Wellness Trust Trading Down 1.8%

NYSE:GRX opened at $9.45 on Friday. The Gabelli Healthcare & Wellness Trust has a 12 month low of $9.03 and a 12 month high of $11.24. The firm has a fifty day simple moving average of $9.53 and a 200-day simple moving average of $9.83.

The Gabelli Healthcare & Wellness Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, June 13th. This represents a $0.68 dividend on an annualized basis and a yield of 7.20%. This is a boost from The Gabelli Healthcare & Wellness Trust’s previous quarterly dividend of $0.15.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 13,156 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $9.62 per share, for a total transaction of $126,560.72. Following the purchase, the insider now owns 1,969,644 shares of the company’s stock, valued at $18,947,975.28. This trade represents a 0.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 17,845 shares of company stock worth $170,798 in the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. increased its stake in shares of The Gabelli Healthcare & Wellness Trust by 3.5% in the fourth quarter. Saba Capital Management L.P. now owns 1,911,034 shares of the investment management company’s stock worth $18,422,000 after acquiring an additional 64,135 shares during the period. Wells Fargo & Company MN boosted its holdings in The Gabelli Healthcare & Wellness Trust by 21.4% in the fourth quarter. Wells Fargo & Company MN now owns 427,010 shares of the investment management company’s stock valued at $4,116,000 after purchasing an additional 75,148 shares during the last quarter. Sit Investment Associates Inc. grew its position in The Gabelli Healthcare & Wellness Trust by 16.1% during the 1st quarter. Sit Investment Associates Inc. now owns 426,290 shares of the investment management company’s stock worth $4,297,000 after purchasing an additional 59,255 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of 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 buying an additional 7,883 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of The Gabelli Healthcare & Wellness Trust by 3.1% in the 1st quarter. LPL Financial LLC now owns 289,088 shares of the investment management company’s stock valued at $2,914,000 after buying an additional 8,739 shares during the period.

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.