The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Buys 1,203 Shares of Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 1,203 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $9.86 per share, with a total value of $11,861.58. Following the completion of the purchase, the insider directly owned 2,119,604 shares of the company’s stock, valued at approximately $20,899,295.44. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% 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 Tuesday, August 11th, Saba Capital Management, L.P. acquired 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Performance

GRX stock opened at $9.89 on Tuesday. The company has a 50-day moving average of $9.52 and a two-hundred day moving average of $9.39. The Gabelli Healthcare & Wellness Trust has a 52-week low of $8.80 and a 52-week high of $10.05.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GRX. Osaic Holdings Inc. lifted its position in shares of The Gabelli Healthcare & Wellness Trust by 11.3% during the second quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company’s stock worth $269,000 after purchasing an additional 2,880 shares in the last quarter. Raymond James Financial Inc. raised its position in The Gabelli Healthcare & Wellness Trust by 83.9% in the 3rd quarter. Raymond James Financial Inc. now owns 30,974 shares of the investment management company’s stock worth $281,000 after purchasing an additional 14,132 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at $77,000. Gamco Investors INC. ET AL grew its position in shares of The Gabelli Healthcare & Wellness Trust by 9.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company’s stock worth $3,296,000 after buying an additional 30,000 shares during the period. Finally, Aviance Capital Partners LLC grew its stake in shares of The Gabelli Healthcare & Wellness Trust by 2.5% during the fourth quarter. Aviance Capital Partners LLC now owns 167,843 shares of the investment management company’s stock worth $1,616,000 after purchasing an additional 4,164 shares during the period.

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.