The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Acquires 11,330 Shares

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. acquired 11,330 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were acquired at an average price of $9.48 per share, with a total value of $107,408.40. Following the completion of the transaction, the insider directly owned 2,037,156 shares in the company, valued at approximately $19,312,238.88. This trade represents a 0.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Thursday, August 21st, Saba Capital Management, L.P. purchased 19,101 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $9.43 per share, with a total value of $180,122.43.
• On Tuesday, July 15th, Saba Capital Management, L.P. purchased 12,924 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.38 per share, for a total transaction of $121,227.12.
• On Monday, July 14th, Saba Capital Management, L.P. purchased 6,080 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $9.35 per share, for a total transaction of $56,848.00.
• On Friday, July 11th, Saba Capital Management, L.P. purchased 6,894 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $9.37 per share, with a total value of $64,596.78.
• On Thursday, July 10th, Saba Capital Management, L.P. acquired 3,952 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.48 per share, with a total value of $37,464.96.

The Gabelli Healthcare & Wellness Trust Price Performance

NYSE GRX traded down $0.03 during midday trading on Tuesday, hitting $9.48. The company had a trading volume of 4,979 shares, compared to its average volume of 23,563. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.93 and a twelve month high of $11.24. The firm has a 50-day moving average price of $9.36 and a 200-day moving average price of $9.60.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 7.2%.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

A number of institutional investors and hedge funds have recently made changes to their positions in GRX. Raymond James Financial Inc. bought a new stake in shares of The Gabelli Healthcare & Wellness Trust in the fourth quarter worth about $171,000. Quarry LP raised its position in shares of The Gabelli Healthcare & Wellness Trust by 341.8% during the 4th quarter. Quarry LP now owns 29,140 shares of the investment management company’s stock valued at $281,000 after buying an additional 22,545 shares in the last quarter. Capstone Investment Advisors LLC increased its position in shares of The Gabelli Healthcare & Wellness Trust by 469.5% during the fourth quarter. Capstone Investment Advisors LLC now owns 99,441 shares of the investment management company’s stock worth $959,000 after acquiring an additional 81,981 shares during the period. Saba Capital Management L.P. boosted its stake in The Gabelli Healthcare & Wellness Trust by 3.5% in the fourth quarter. Saba Capital Management L.P. now owns 1,911,034 shares of the investment management company’s stock valued at $18,422,000 after acquiring an additional 64,135 shares in the last quarter. Finally, Waverly Advisors LLC purchased a new position in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter worth $473,000.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare and Wellness Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets across the globe. The fund seeks to invest in stocks of companies primarily operating in the healthcare and wellness sector.