Key Points
- Saba Capital Management purchased 1,203 GRX shares at an average price of $9.86, spending $11,861.58. Its total holdings rose to 2,119,604 shares, valued at approximately $20.9 million.
- The Gabelli Healthcare & Wellness Trust declared a quarterly dividend of $0.17 per share, equivalent to an annualized $0.68 dividend and a 6.9% yield.
- GRX opened at $9.89 and has traded between $8.80 and $10.05 over the past year. Several institutional investors, including Sit Investment Associates and Gamco Investors, also increased their positions.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,203 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $9.86 per share, for a total transaction of $11,861.58. Following the transaction, the insider owned 2,119,604 shares of the company's stock, valued at approximately $20,899,295.44. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Tuesday, August 11th, Saba Capital Management, L.P. acquired 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.93 per share, for a total transaction of $1,986.00.
The Gabelli Healthcare & Wellness Trust Price Performance
The Gabelli Healthcare & Wellness Trust stock opened at $9.89 on Tuesday. The company's 50-day moving average price is $9.52 and its two-hundred day moving average price is $9.39. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.05.
The Gabelli Healthcare & Wellness Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Wednesday, September 16th.
Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust
Several hedge funds have recently bought and sold shares of GRX. Sit Investment Associates Inc. boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 23.7% in the 4th quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company's stock valued at $9,932,000 after purchasing an additional 197,594 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in The Gabelli Healthcare & Wellness Trust during the 4th quarter worth approximately $1,722,000. &PARTNERS bought a new position in The Gabelli Healthcare & Wellness Trust in the 4th quarter valued at approximately $1,143,000. Saba Capital Management L.P. lifted its stake in The Gabelli Healthcare & Wellness Trust by 3.3% in the 4th quarter. Saba Capital Management L.P. now owns 2,118,201 shares of the investment management company's stock valued at $20,398,000 after purchasing an additional 67,166 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in The Gabelli Healthcare & Wellness Trust by 9.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company's stock valued at $3,296,000 after buying an additional 30,000 shares in the last quarter.
The Gabelli Healthcare & Wellness Trust Company Profile
(
Get Free Report)
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.
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