Saba Capital Management, L.P. Purchases 7,087 Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. acquired 7,087 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction dated Friday, August 21st. The stock was bought at an average price of $10.13 per share, for a total transaction of $71,791.31. Following the completion of the purchase, the insider owned 2,150,793 shares of the company’s stock, valued at approximately $21,787,533.09. This represents a 0.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, August 19th, Saba Capital Management, L.P. purchased 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were 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. bought 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were 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. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Performance

NYSE GRX traded up $0.01 during trading hours on Monday, hitting $10.14. The company had a trading volume of 7,430 shares, compared to its average volume of 27,502. The Gabelli Healthcare & Wellness Trust has a 1-year low of $8.80 and a 1-year high of $10.20. The business has a 50 day moving average of $9.59 and a 200-day moving average of $9.40.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the first quarter worth about $90,000. Gamco Investors INC. ET AL lifted its holdings in shares of The Gabelli Healthcare & Wellness Trust by 1.1% during the 1st 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 position in shares of 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 worth $1,550,000 after acquiring an additional 3,482 shares during the last quarter. Fifth Third Bancorp acquired a new position in The Gabelli Healthcare & Wellness Trust during the first quarter worth approximately $33,000. Finally, Private Advisor Group LLC raised its stake in The Gabelli Healthcare & Wellness Trust by 25.2% during the first 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 during the period.

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.