The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.84 and traded as low as $9.61. The Gabelli Healthcare & Wellness Trust shares last traded at $9.67, with a volume of 10,281 shares.

The Gabelli Healthcare & Wellness Trust Stock Up 0.8%

The business’s 50 day moving average is $9.51 and its 200-day moving average is $9.84.

The Gabelli Healthcare & Wellness Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be given a $0.17 dividend. This is an increase from The Gabelli Healthcare & Wellness Trust’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend is Friday, June 13th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 13,156 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $9.62 per share, for a total transaction of $126,560.72. Following the purchase, the insider now directly owns 1,969,644 shares in the company, valued at $18,947,975.28. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders acquired 17,845 shares of company stock valued at $170,798.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC grew its position in The Gabelli Healthcare & Wellness Trust by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 3,622 shares of the investment management company’s stock worth $37,000 after buying an additional 1,811 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 1st quarter worth approximately $78,000. Oppenheimer & Co. Inc. acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 1st quarter worth approximately $113,000. Winebrenner Capital Management LLC bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at approximately $125,000. Finally, Independent Advisor Alliance bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at approximately $147,000.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare and Wellness Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets across the globe. The fund seeks to invest in stocks of companies primarily operating in the healthcare and wellness sector.