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

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 4,340 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $10.05 per share, for a total transaction of $43,617.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is available at 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 21st, Saba Capital Management, L.P. purchased 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.13 per share, with a total value 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 shares were bought at an average price 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 shares were bought at an average cost of $9.86 per share, for a total transaction of $11,861.58.
• On Tuesday, August 11th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.93 per share, with a total value of $1,986.00.

The Gabelli Healthcare & Wellness Trust Stock Performance

The Gabelli Healthcare & Wellness Trust stock traded up $0.03 during midday trading on Friday, reaching $10.08. The stock had a trading volume of 2,624 shares, compared to its average volume of 27,393. The company has a fifty day moving average price of $9.68 and a two-hundred day moving average price of $9.42. The Gabelli Healthcare & Wellness Trust has a 12 month low of $8.80 and a 12 month high of $10.20.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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

Institutional Trading of The Gabelli Healthcare & Wellness Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Gabelli Healthcare & Wellness Trust during the first quarter worth $90,000. Gamco Investors INC. ET AL boosted its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company’s stock worth $3,132,000 after acquiring an additional 3,800 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 2.1% during the 1st quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company’s stock worth $1,550,000 after acquiring an additional 3,482 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $33,000. Finally, Private Advisor Group LLC raised its holdings in shares of The Gabelli Healthcare & Wellness Trust by 25.2% in the first quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company’s stock valued at $180,000 after purchasing an additional 4,000 shares during the last quarter.

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.