The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Acquires 4,340 Shares of Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 4,340 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction dated Thursday, August 27th. The stock was acquired 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 of the company’s stock, valued at $21,659,086.65. This represents a 0.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, August 21st, Saba Capital Management, L.P. purchased 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $10.13 per share, for a total transaction of $71,791.31.
• On Wednesday, August 19th, Saba Capital Management, L.P. acquired 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired 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 stock was acquired at an average price of $9.86 per share, with a total value of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Trading Up 0.3%

Shares of NYSE GRX traded up $0.03 during mid-day trading on Friday, reaching $10.08. 2,624 shares of the company’s stock were exchanged, compared to its average volume of 27,393. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.20. The firm has a 50-day moving average price of $9.68 and a two-hundred day moving average price of $9.42.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 annualized dividend and a yield of 6.7%.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

A number of hedge funds have recently modified their holdings of GRX. Sit Investment Associates Inc. grew its holdings in The Gabelli Healthcare & Wellness Trust by 23.7% during 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 during the period. Evolve Private Wealth LLC bought a new position in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter worth $1,722,000. &PARTNERS bought a new position in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter worth $1,143,000. Saba Capital Management L.P. increased its holdings in The Gabelli Healthcare & Wellness Trust by 3.3% in the 4th quarter. Saba Capital Management L.P. now owns 2,118,201 shares of the investment management company’s stock worth $20,398,000 after acquiring an additional 67,166 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in The Gabelli Healthcare & Wellness Trust by 9.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company’s stock valued at $3,296,000 after acquiring an additional 30,000 shares during the period.

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.