Saba Capital Management, L.P. Buys 7,087 Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 7,087 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average price of $10.13 per share, for a total transaction of $71,791.31. Following the acquisition, the insider directly owned 2,150,793 shares in the company, valued at approximately $21,787,533.09. This represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, August 19th, Saba Capital Management, L.P. acquired 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.13 per share, for a total transaction of $244,153.26.
• On Friday, August 14th, Saba Capital Management, L.P. acquired 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.86 per share, for a total transaction of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Performance

Shares of NYSE:GRX traded up $0.01 during mid-day trading on Monday, hitting $10.14. 7,430 shares of the company traded hands, compared to its average volume of 27,502. The Gabelli Healthcare & Wellness Trust has a 52-week low of $8.80 and a 52-week high of $10.20. The firm’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $9.40.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The company also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new stake in The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at $77,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in The Gabelli Healthcare & Wellness Trust during the 1st quarter valued at $90,000. Closed End Fund Advisors Inc. acquired a new position in The Gabelli Healthcare & Wellness Trust during the 4th quarter worth $113,000. Finally, Private Advisor Group LLC increased its position in shares of 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 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.