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

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. acquired 7,087 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $10.13 per share, with a total value of $71,791.31. Following the completion of the acquisition, the insider directly owned 2,150,793 shares in the company, valued at $21,787,533.09. The trade was a 0.33% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Wednesday, August 19th, Saba Capital Management, L.P. bought 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price 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 stock was purchased at an average cost of $9.86 per share, for a total transaction of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. purchased 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.93 per share, for a total transaction of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Up 0.1%

Shares of GRX stock opened at $10.15 on Tuesday. The business has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $9.41. The Gabelli Healthcare & Wellness Trust has a 12-month low of $8.80 and a 12-month high of $10.20.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 annualized dividend and a yield of 6.7%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 1st quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter valued at $77,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Healthcare & Wellness Trust in the 1st quarter worth $90,000. Closed End Fund Advisors Inc. purchased a new position in The Gabelli Healthcare & Wellness Trust in the 4th quarter worth $113,000. Finally, Private Advisor Group LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 25.2% in 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 last quarter.

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.