Key Points
- Saba Capital Management purchased 7,087 GRX shares at an average price of $10.13, increasing its position by 0.33% to 2,150,793 shares valued at approximately $21.8 million.
- GRX opened at $10.15 and was up 0.1%, trading near its one-year high of $10.20 and above its 50-day and 200-day moving averages.
- The trust announced a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 6.7% dividend yield, payable September 23 to shareholders of record September 16.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 7,087 shares of the stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of $10.13 per share, with a total value of $71,791.31. Following the completion of the purchase, the insider owned 2,150,793 shares of the company's stock, valued at approximately $21,787,533.09. The trade was a 0.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 Wednesday, August 19th, Saba Capital Management, L.P. bought 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $244,153.26.
- On Friday, August 14th, Saba Capital Management, L.P. purchased 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were 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 shares were acquired at an average cost of $9.93 per share, with a total value of $1,986.00.
The Gabelli Healthcare & Wellness Trust Stock Up 0.1%
GRX opened at $10.15 on Tuesday. The Gabelli Healthcare & Wellness Trust has a one year low of $8.80 and a one year high of $10.20. The business has a 50 day simple moving average of $9.61 and a two-hundred day simple moving average of $9.41.
The Gabelli Healthcare & Wellness Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 6.7%.
Institutional Trading of The Gabelli Healthcare & Wellness Trust
Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its position in The Gabelli Healthcare & Wellness Trust by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company's stock valued at $269,000 after purchasing an additional 2,880 shares during the period. Raymond James Financial Inc. lifted its position in shares of The Gabelli Healthcare & Wellness Trust by 83.9% in the 3rd quarter. Raymond James Financial Inc. now owns 30,974 shares of the investment management company's stock worth $281,000 after purchasing an additional 14,132 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 4th quarter worth about $77,000. Gamco Investors INC. ET AL boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 9.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company's stock valued at $3,296,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 2.5% during the 4th quarter. Aviance Capital Partners LLC now owns 167,843 shares of the investment management company's stock valued at $1,616,000 after purchasing an additional 4,164 shares in 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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