Key Points
- Saba Capital Management purchased 1,775 GRX shares at an average price of $9.38, increasing its stake to 2,164,547 shares valued at approximately $20.3 million.
- The purchase is part of a broader buying pattern by Saba, which acquired more than 45,000 additional shares across several transactions since August.
- GRX recently paid a quarterly dividend of $0.17 per share, equivalent to $0.68 annually and a 7.2% yield; the stock opened at $9.42 and has traded between $8.80 and $10.20 over the past year.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,775 shares of the firm's stock in a transaction dated Monday, October 5th. The shares were bought at an average cost of $9.38 per share, with a total value of $16,649.50. Following the transaction, the insider directly owned 2,164,547 shares of the company's stock, valued at approximately $20,303,450.86. This represents a 0.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 Thursday, October 1st, Saba Capital Management, L.P. purchased 5,720 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.41 per share, with a total value of $53,825.20.
- On Friday, October 2nd, Saba Capital Management, L.P. purchased 500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $9.35 per share, for a total transaction of $4,675.00.
- On Wednesday, September 30th, Saba Capital Management, L.P. acquired 519 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.52 per share, for a total transaction of $4,940.88.
- On Friday, September 11th, Saba Capital Management, L.P. acquired 400 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.71 per share, for a total transaction of $3,884.00.
- On Thursday, September 3rd, Saba Capital Management, L.P. acquired 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $10.08 per share, with a total value of $5,040.00.
- On Thursday, August 27th, Saba Capital Management, L.P. bought 4,340 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought 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. bought 7,087 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought 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. bought 24,102 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought 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 shares were bought 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. purchased 200 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $9.93 per share, for a total transaction of $1,986.00.
The Gabelli Healthcare & Wellness Trust Stock Performance
NYSE:GRX opened at $9.42 on Thursday. The Gabelli Healthcare & Wellness Trust has a one year low of $8.80 and a one year high of $10.20. The stock has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $9.43.
The Gabelli Healthcare & Wellness Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Wednesday, September 16th.
Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust
A number of institutional investors have recently made changes to their positions in GRX. Sit Investment Associates Inc. boosted its position in The Gabelli Healthcare & Wellness Trust by 23.7% during 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 period. Uhlmann Price Securities LLC grew its stake 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 worth $557,000 after purchasing an additional 11,088 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of The Gabelli Healthcare & Wellness Trust during the first quarter valued at $90,000. Private Advisor Group LLC increased its holdings in shares of 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 valued at $180,000 after purchasing an additional 4,000 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in shares of 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 valued at $3,132,000 after purchasing an additional 3,800 shares in the last quarter.
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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