The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Sees Significant Drop in Short Interest

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

The Gabelli Healthcare & Wellness Trust Stock Performance

NYSE:GRX remained flat at $9.66 during trading hours on Thursday. 19,913 shares of the company’s stock were exchanged, compared to its average volume of 27,061. The stock has a fifty day moving average of $9.83 and a 200-day moving average of $9.43. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.20.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.0%.

Insider Activity

In other The Gabelli Healthcare & Wellness Trust news, major shareholder Saba Capital Management, L.P. acquired 4,340 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $10.05 per share, with a total value of $43,617.00. Following the completion of the acquisition, the insider owned 2,155,133 shares in the company, valued at approximately $21,659,086.65. This trade represents a 0.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have bought 37,832 shares of company stock worth $382,333.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in shares of The Gabelli Healthcare & Wellness Trust in the first quarter valued at approximately $33,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the first quarter worth approximately $90,000. Closed End Fund Advisors Inc. purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter worth approximately $113,000. Private Advisor Group LLC raised its stake in 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 purchasing an additional 4,000 shares during the last quarter. Finally, Uhlmann Price Securities LLC raised its stake in The Gabelli Healthcare & Wellness Trust by 22.0% in the 1st quarter. Uhlmann Price Securities LLC now owns 61,590 shares of the investment management company’s stock valued at $557,000 after purchasing an additional 11,088 shares during the last quarter.

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.