The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Buys 6,122 Shares

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 6,122 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction that occurred on Tuesday, October 21st. The shares were acquired at an average price of $9.29 per share, with a total value of $56,873.38. Following the completion of the acquisition, the insider directly owned 2,066,493 shares of the company’s stock, valued at $19,197,719.97. This represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, October 22nd, Saba Capital Management, L.P. acquired 1,053 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.31 per share, with a total value of $9,803.43.
• On Friday, September 12th, Saba Capital Management, L.P. acquired 7,732 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.43 per share, with a total value of $72,912.76.
• On Thursday, September 11th, Saba Capital Management, L.P. acquired 6,147 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.43 per share, with a total value of $57,966.21.
• On Monday, August 25th, Saba Capital Management, L.P. acquired 11,330 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.48 per share, with a total value of $107,408.40.
• On Thursday, August 21st, Saba Capital Management, L.P. bought 19,101 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $9.43 per share, with a total value of $180,122.43.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of NYSE:GRX opened at $9.31 on Friday. The firm has a fifty day moving average of $9.30 and a two-hundred day moving average of $9.39. The Gabelli Healthcare & Wellness Trust has a 12-month low of $8.93 and a 12-month high of $10.69.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.3%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRX. Golden State Wealth Management LLC raised its holdings in shares of The Gabelli Healthcare & Wellness Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,622 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 1,811 shares in the last quarter. Allworth Financial LP increased its stake in The Gabelli Healthcare & Wellness Trust by 98,440.0% in the second quarter. Allworth Financial LP now owns 4,927 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 4,922 shares during the period. Wolverine Asset Management LLC acquired a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $78,000. Oppenheimer & Co. Inc. acquired a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $113,000. Finally, Shaker Financial Services LLC acquired a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $155,000.

About The Gabelli Healthcare & Wellness Trust

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.