The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Share Price Passes Below 200-Day Moving Average – Should You Sell?

The Gabelli Healthcare & Wellness Trust (NYSE:GRX)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.50 and traded as low as $9.27. The Gabelli Healthcare & Wellness Trust shares last traded at $9.27, with a volume of 23,339 shares traded.

The Gabelli Healthcare & Wellness Trust Price Performance

The stock has a fifty day moving average price of $9.69 and a 200 day moving average price of $9.50.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.68 annualized dividend and a yield of 7.4%.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli purchased 1,000,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider directly owned 1,000,000 shares in the company, valued at approximately $10,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders bought 1,905,800 shares of company stock worth $19,055,564.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

A number of large investors have recently modified their holdings of the company. Allworth Financial LP increased its holdings in shares of The Gabelli Healthcare & Wellness Trust by 98,440.0% in the 2nd quarter. Allworth Financial LP now owns 4,927 shares of the investment management company’s stock worth $47,000 after buying an additional 4,922 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter worth $77,000. Closed End Fund Advisors Inc. purchased a new position in The Gabelli Healthcare & Wellness Trust in the fourth quarter worth $113,000. Wolverine Asset Management LLC purchased a new position in The Gabelli Healthcare & Wellness Trust in the third quarter worth $216,000. Finally, Osaic Holdings Inc. increased its stake in The Gabelli Healthcare & Wellness Trust by 11.3% in the second quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company’s stock valued at $269,000 after acquiring an additional 2,880 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.