Key Points
- Saba Capital Management acquired 24,102 GRX shares at an average price of $10.13, investing approximately $244,153 and increasing its position by 1.14% to 2.14 million shares.
- The Gabelli Healthcare & Wellness Trust announced a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 6.8% yield; it is payable September 23 to shareholders of record September 16.
- GRX shares opened at $10.00, near their 12-month high of $10.17, while several institutional investors—including Gamco Investors and Private Advisor Group—also increased their holdings.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 24,102 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $10.13 per share, with a total value of $244,153.26. Following the completion of the transaction, the insider owned 2,143,706 shares in the company, valued at approximately $21,715,741.78. The trade was a 1.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 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 14th, Saba Capital Management, L.P. acquired 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $9.86 per share, for a total transaction of $11,861.58.
- On Tuesday, August 11th, Saba Capital Management, L.P. purchased 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.93 per share, with a total value of $1,986.00.
The Gabelli Healthcare & Wellness Trust Stock Performance
Shares of The Gabelli Healthcare & Wellness Trust stock opened at $10.00 on Friday. The Gabelli Healthcare & Wellness Trust has a 12-month low of $8.80 and a 12-month high of $10.17. The company has a fifty day simple moving average of $9.57 and a 200-day simple moving average of $9.40.
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 given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.8%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The Gabelli Healthcare & Wellness Trust in the 1st quarter valued at $90,000. Gamco Investors INC. ET AL increased its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company's stock valued at $3,132,000 after buying an additional 3,800 shares in the last quarter. Aviance Capital Partners LLC increased its stake in The Gabelli Healthcare & Wellness Trust by 2.1% in the 1st quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company's stock valued at $1,550,000 after purchasing an additional 3,482 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of The Gabelli Healthcare & Wellness Trust in the first quarter valued at $33,000. Finally, Private Advisor Group LLC raised its position in The Gabelli Healthcare & Wellness Trust by 25.2% during the first quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company's stock worth $180,000 after acquiring an additional 4,000 shares during the last quarter.
About The Gabelli Healthcare & Wellness Trust
(
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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