Key Points
- Saba Capital Management, a major shareholder of The Gabelli Healthcare & Wellness Trust, bought 5,720 shares at an average price of $9.41, increasing its stake to 2,162,272 shares valued at approximately $20.35 million.
- Saba Capital has made several additional GRX purchases in recent weeks, including 500 shares at $9.35 on October 2 and 519 shares at $9.52 on September 30.
- GRX recently paid a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a stated yield of 7.3%; the stock was trading near $9.37, within its $8.80–$10.20 one-year range.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. bought 5,720 shares of the stock in a transaction on Thursday, October 1st. The shares were acquired at an average cost of $9.41 per share, for a total transaction of $53,825.20. Following the purchase, the insider owned 2,162,272 shares in the company, valued at $20,346,979.52. The trade was a 0.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, October 2nd, Saba Capital Management, L.P. bought 500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $9.35 per share, with a total value of $4,675.00.
- On Wednesday, September 30th, Saba Capital Management, L.P. purchased 519 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $4,940.88.
- On Friday, September 11th, Saba Capital Management, L.P. purchased 400 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.71 per share, for a total transaction of $3,884.00.
- On Thursday, September 3rd, Saba Capital Management, L.P. purchased 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $10.08 per share, for a total transaction of $5,040.00.
- On Thursday, August 27th, Saba Capital Management, L.P. acquired 4,340 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $10.05 per share, with a total value of $43,617.00.
- On Friday, August 21st, Saba Capital Management, L.P. acquired 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $10.13 per share, with a total value of $71,791.31.
- On Wednesday, August 19th, Saba Capital Management, L.P. acquired 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $10.13 per share, with a total value of $244,153.26.
- On Friday, August 14th, Saba Capital Management, L.P. bought 1,203 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.86 per share, for a total transaction of $11,861.58.
- On Tuesday, August 11th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.93 per share, for a total transaction of $1,986.00.
The Gabelli Healthcare & Wellness Trust Stock Performance
Shares of The Gabelli Healthcare & Wellness Trust stock opened at $9.37 on Tuesday. The stock's 50 day simple moving average is $9.84 and its 200-day simple moving average is $9.42. The Gabelli Healthcare & Wellness Trust has a 1-year low of $8.80 and a 1-year high of $10.20.
The Gabelli Healthcare & Wellness Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a yield of 7.3%.
Institutional Trading of The Gabelli Healthcare & Wellness Trust
Several large investors have recently added to or reduced their stakes in GRX. Sit Investment Associates Inc. increased 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 worth $9,932,000 after acquiring an additional 197,594 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of The Gabelli Healthcare & Wellness Trust by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 346,026 shares of the investment management company's stock valued at $3,132,000 after acquiring an additional 3,800 shares during the last quarter. Aviance Capital Partners LLC boosted its position in shares of The Gabelli Healthcare & Wellness Trust by 2.1% during 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 acquiring an additional 3,482 shares during the last quarter. Uhlmann Price Securities LLC grew its holdings in shares of The Gabelli Healthcare & Wellness Trust by 22.0% in the first quarter. Uhlmann Price Securities LLC now owns 61,590 shares of the investment management company's stock valued at $557,000 after purchasing an additional 11,088 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of The Gabelli Healthcare & Wellness Trust by 25.2% in the first quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company's stock valued at $180,000 after purchasing an additional 4,000 shares during the period.
About The Gabelli Healthcare & Wellness Trust
(
Get Free Report)
The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a diversified, closed-end investment company focused on long-term growth of capital. Rather than operating healthcare facilities or selling consumer products, the trust invests in publicly traded companies involved in healthcare and wellness.
Its portfolio may include businesses across areas such as pharmaceuticals, biotechnology, medical devices, healthcare services, managed care, diagnostics, consumer health and wellness products, and related industries.
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