Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Buys $139,018.62 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 14,451 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average cost of $9.62 per share, with a total value of $139,018.62. Following the completion of the transaction, the insider directly owned 2,102,805 shares of the company’s stock, valued at $20,228,984.10. The trade was a 0.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, October 23rd, Saba Capital Management, L.P. acquired 20,808 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $193,098.24.
• On Wednesday, October 22nd, Saba Capital Management, L.P. bought 1,053 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $9.31 per share, with a total value of $9,803.43.
• On Tuesday, October 21st, Saba Capital Management, L.P. bought 6,122 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $9.29 per share, for a total transaction of $56,873.38.
• On Friday, September 12th, Saba Capital Management, L.P. purchased 7,732 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.43 per share, with a total value of $72,912.76.
• On Thursday, September 11th, Saba Capital Management, L.P. acquired 6,147 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.43 per share, with a total value of $57,966.21.

The Gabelli Healthcare & Wellness Trust Trading Up 0.7%

GRX opened at $9.67 on Friday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.93 and a twelve month high of $10.63. The company’s 50-day moving average price is $9.29 and its two-hundred day moving average price is $9.37.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 12th.

Institutional Trading of The Gabelli Healthcare & Wellness Trust

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its holdings in 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 worth $2,914,000 after acquiring an additional 8,739 shares during the last quarter. Uhlmann Price Securities LLC boosted its position in The Gabelli Healthcare & Wellness Trust by 23.2% during the second quarter. Uhlmann Price Securities LLC now owns 30,498 shares of the investment management company’s stock worth $288,000 after purchasing an additional 5,748 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of The Gabelli Healthcare & Wellness Trust by 103.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,768 shares of the investment management company’s stock worth $489,000 after purchasing an additional 25,848 shares in the last quarter. Stephens Inc. AR increased its stake in shares of The Gabelli Healthcare & Wellness Trust by 1.5% in the second quarter. Stephens Inc. AR now owns 109,812 shares of the investment management company’s stock worth $1,038,000 after purchasing an additional 1,632 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of The Gabelli Healthcare & Wellness Trust by 2.3% in the first quarter. Gamco Investors INC. ET AL now owns 350,109 shares of the investment management company’s stock valued at $3,529,000 after purchasing an additional 7,883 shares during the period.

About The Gabelli Healthcare & Wellness Trust

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.