Short Interest in The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Decreases By 35.4%

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 4,191 shares, a drop of 35.4% from the August 15th total of 6,492 shares. Based on an average daily volume of 32,325 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at The Gabelli Healthcare & Wellness Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 4,340 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $10.05 per share, for a total transaction of $43,617.00. Following the completion of the transaction, the insider owned 2,155,133 shares in the company, valued at $21,659,086.65. This represents a 0.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 37,832 shares of company stock valued at $382,333 over the last ninety days.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 1st quarter worth about $33,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $90,000. Closed End Fund Advisors Inc. purchased a new position in The Gabelli Healthcare & Wellness Trust during the fourth quarter worth about $113,000. Private Advisor Group LLC boosted 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 buying an additional 4,000 shares during the period. Finally, Uhlmann Price Securities LLC increased its position in shares of The Gabelli Healthcare & Wellness Trust by 22.0% during the first quarter. Uhlmann Price Securities LLC now owns 61,590 shares of the investment management company’s stock valued at $557,000 after acquiring an additional 11,088 shares during the last quarter.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of NYSE GRX remained flat at $9.66 during trading on Thursday. The stock had a trading volume of 19,913 shares, compared to its average volume of 27,061. The company’s 50-day moving average is $9.83 and its two-hundred day moving average is $9.43. The Gabelli Healthcare & Wellness Trust has a fifty-two week low of $8.80 and a fifty-two week high of $10.20.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 7.0%.

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.