Saba Capital Management, L.P. Acquires 4,084 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 4,084 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were acquired at an average price of $9.36 per share, with a total value of $38,226.24. Following the completion of the transaction, the insider directly owned 2,118,201 shares in the company, valued at approximately $19,826,361.36. This trade represents a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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 Tuesday, December 16th, Saba Capital Management, L.P. purchased 11,312 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $9.37 per share, with a total value of $105,993.44.
• On Tuesday, November 25th, Saba Capital Management, L.P. acquired 14,451 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $9.62 per share, for a total transaction of $139,018.62.
• On Thursday, October 23rd, Saba Capital Management, L.P. bought 20,808 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.28 per share, with a total value 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 bought 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. acquired 6,122 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.29 per share, with a total value of $56,873.38.

The Gabelli Healthcare & Wellness Trust Price Performance

GRX opened at $9.63 on Friday. The stock has a fifty day moving average price of $9.41 and a 200 day moving average price of $9.38. The Gabelli Healthcare & Wellness Trust has a 1 year low of $8.93 and a 1 year high of $10.48.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were issued a $0.17 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.68 dividend on an annualized basis and a yield of 7.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRX. Gamco Investors INC. ET AL lifted its stake in shares of The Gabelli Healthcare & Wellness Trust by 2.3% in 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 purchasing an additional 7,883 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in The Gabelli Healthcare & Wellness Trust by 15.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 277,858 shares of the investment management company’s stock worth $2,520,000 after purchasing an additional 37,156 shares during the period. Aviance Capital Partners LLC grew its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% during the third quarter. Aviance Capital Partners LLC now owns 163,679 shares of the investment management company’s stock valued at $1,485,000 after purchasing an additional 1,773 shares during the last quarter. Stephens Inc. AR raised its position in shares of The Gabelli Healthcare & Wellness Trust by 10.2% in the third quarter. Stephens Inc. AR now owns 120,989 shares of the investment management company’s stock valued at $1,097,000 after purchasing an additional 11,177 shares during the period. Finally, Traub Capital Management LLC bought a new position in shares of The Gabelli Healthcare & Wellness Trust in the second quarter valued at approximately $1,142,000.

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.