Key Points
- Saba Capital Management increased its stake in The Gabelli Healthcare & Wellness Trust by purchasing 4,340 shares for approximately $43,617, bringing its holdings to 2.16 million shares.
- The trust’s shares opened at $10.06 and have traded between $8.80 and $10.20 over the past year. The stock’s 50-day and 200-day moving averages were $9.70 and $9.42, respectively.
- GRX declared a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 6.8% 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. bought 4,340 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $10.05 per share, with a total value of $43,617.00. Following the transaction, the insider owned 2,155,133 shares of the company's stock, valued at $21,659,086.65. The trade was a 0.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% 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 Friday, August 21st, Saba Capital Management, L.P. purchased 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.13 per share, for a total transaction of $71,791.31.
- On Wednesday, August 19th, Saba Capital Management, L.P. purchased 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price 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 stock was purchased 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. acquired 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.93 per share, with a total value of $1,986.00.
The Gabelli Healthcare & Wellness Trust Price Performance
Shares of NYSE:GRX opened at $10.06 on Friday. The Gabelli Healthcare & Wellness Trust has a 1-year low of $8.80 and a 1-year high of $10.20. The business has a 50-day moving average price of $9.70 and a two-hundred day moving average price of $9.42.
The Gabelli Healthcare & Wellness Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 6.8%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of The Gabelli Healthcare & Wellness Trust by 4.0% during the fourth quarter. NewEdge Advisors LLC now owns 66,689 shares of the investment management company's stock worth $642,000 after purchasing an additional 2,568 shares during the period. Osaic Holdings Inc. lifted its stake in The Gabelli Healthcare & Wellness Trust by 11.3% in the second quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company's stock valued at $269,000 after buying an additional 2,880 shares during the period. Aviance Capital Partners LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 2.1% in the first quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company's stock valued at $1,550,000 after buying an additional 3,482 shares during the period. Fifth Third Bancorp acquired a new position in The Gabelli Healthcare & Wellness Trust in the first quarter valued at about $33,000. Finally, Gamco Investors INC. ET AL boosted its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company's stock worth $3,132,000 after buying an additional 3,800 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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