The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Declares Dividend Increase – $0.20 Per Share

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) declared a quarterly dividend on Wednesday, November 11th. Shareholders of record on Friday, December 11th will be given a dividend of $0.20 per share by the investment management company on Friday, December 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, December 11th. This is a 17.6% increase from The Gabelli Healthcare & Wellness Trust’s previous quarterly dividend of $0.17.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of NYSE GRX opened at $10.40 on Thursday. The Gabelli Healthcare & Wellness Trust has a 1 year low of $8.80 and a 1 year high of $10.64. The firm has a fifty day moving average price of $9.89 and a 200-day moving average price of $9.56.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 24,102 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $10.13 per share, with a total value of $244,153.26. Following the acquisition, the insider owned 2,143,706 shares of the company’s stock, valued at approximately $21,715,741.78. This represents a 1.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 77,337 shares of company stock valued at $773,570.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC lifted its position in shares of The Gabelli Healthcare & Wellness Trust by 10.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 361,780 shares of the investment management company’s stock valued at $3,441,000 after acquiring an additional 34,122 shares in the last quarter. Private Advisor Group LLC bought a new stake in The Gabelli Healthcare & Wellness Trust during the 3rd quarter valued at approximately $187,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter valued at approximately $90,000. Gamco Investors INC. ET AL raised its stake 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 valued at $3,132,000 after purchasing an additional 3,800 shares during the period. Finally, Fifth Third Bancorp purchased a new position in The Gabelli Healthcare & Wellness Trust in the 1st quarter worth approximately $33,000.

About The Gabelli Healthcare & Wellness Trust

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end management investment company focused on long-term growth of capital. Rather than operating healthcare facilities or selling healthcare products directly, the trust invests in the securities of companies involved in healthcare and wellness. Its portfolio may include companies across areas such as pharmaceuticals, biotechnology, medical devices, healthcare services, diagnostics, consumer health, fitness and other wellness-related industries.