Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires $244,153.26 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 24,102 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $244,153.26. Following the completion of the transaction, the insider directly owned 2,143,706 shares of the company’s stock, valued at $21,715,741.78. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large 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 Friday, August 14th, Saba Capital Management, L.P. acquired 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased 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. purchased 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 Trading Down 0.7%

Shares of NYSE GRX traded down $0.07 during trading hours on Thursday, hitting $10.08. The stock had a trading volume of 8,276 shares, compared to its average volume of 27,300. The firm’s 50-day moving average price is $9.55 and its two-hundred day moving average price is $9.40. The Gabelli Healthcare & Wellness Trust has a 52 week low of $8.80 and a 52 week high of $10.17.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.7%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Saba Capital Management L.P. lifted its stake in shares of The Gabelli Healthcare & Wellness Trust by 3.3% during the fourth quarter. Saba Capital Management L.P. now owns 2,118,201 shares of the investment management company’s stock valued at $20,398,000 after acquiring an additional 67,166 shares during the period. Sit Investment Associates Inc. raised its holdings in The Gabelli Healthcare & Wellness Trust by 23.7% in the 4th quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company’s stock valued at $9,932,000 after acquiring an additional 197,594 shares during the period. Gamco Investors INC. ET AL boosted its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company’s stock valued at $3,132,000 after purchasing an additional 3,800 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in The Gabelli Healthcare & Wellness Trust by 5.3% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 292,672 shares of the investment management company’s stock worth $2,818,000 after buying an additional 14,814 shares in the last quarter. Finally, LPL Financial LLC increased its stake in The Gabelli Healthcare & Wellness Trust by 2.1% in the fourth quarter. LPL Financial LLC now owns 291,560 shares of the investment management company’s stock valued at $2,808,000 after acquiring an additional 5,907 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.