The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock Short Interest Climbs 114.9%

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 13,356 shares, a growth of 114.9% from the September 15th total of 6,216 shares. Based on an average trading volume of 21,608 shares, the days-to-cover ratio is presently 0.6 days.

The Gabelli Healthcare & Wellness Trust Stock Up 0.5%

Shares of The Gabelli Healthcare & Wellness Trust stock traded up $0.04 during midday trading on Tuesday, reaching $9.65. 1,078 shares of the company’s stock traded hands, compared to its average volume of 26,139. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.20. The company’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $9.44.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, September 16th.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 24,102 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $10.13 per share, with a total value of $244,153.26. Following the purchase, the insider owned 2,143,706 shares in the company, valued at $21,715,741.78. This represents a 1.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders bought 54,140 shares of company stock valued at $535,820.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aviance Capital Partners LLC lifted its stake 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 valued at $1,550,000 after buying an additional 3,482 shares during the period. Fifth Third Bancorp acquired a new stake in The Gabelli Healthcare & Wellness Trust during the first quarter worth $33,000. Gamco Investors INC. ET AL increased its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company’s stock valued at $3,132,000 after buying an additional 3,800 shares during the period. Private Advisor Group LLC raised its stake in shares of 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 in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of The Gabelli Healthcare & Wellness Trust during the 1st quarter worth about $90,000.

About The Gabelli Healthcare & Wellness Trust

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end investment company focused on long-term capital appreciation. Rather than operating healthcare businesses directly, the trust invests primarily in the equity securities of companies involved in the healthcare and wellness industries.

Its investment universe may include pharmaceutical and biotechnology companies, medical-device manufacturers, healthcare-services providers, and businesses serving broader consumer wellness markets.