Saba Capital Management, L.P. Acquires 24,102 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 24,102 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $10.13 per share, for a total transaction of $244,153.26. Following the completion of the acquisition, the insider owned 2,143,706 shares in the company, valued at approximately $21,715,741.78. The trade was a 1.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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 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 Performance

GRX opened at $10.14 on Friday. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.18. The business has a fifty day simple moving average of $9.59 and a 200-day simple moving average of $9.41.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Several institutional investors have recently bought and sold shares of GRX. Sit Investment Associates Inc. grew its holdings in shares of The Gabelli Healthcare & Wellness Trust by 23.7% in the fourth quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company’s stock valued at $9,932,000 after purchasing an additional 197,594 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in The Gabelli Healthcare & Wellness Trust by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company’s stock worth $269,000 after buying an additional 2,880 shares in the last quarter. Fifth Third Bancorp acquired a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter worth approximately $33,000. Gamco Investors INC. ET AL boosted its position 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. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Healthcare & Wellness Trust in the 1st quarter valued at approximately $90,000.

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.