Key Points
- Saba Capital Management purchased 2,955 shares of The Gabelli Healthcare & Wellness Trust (GRX) at an average price of $9.43, increasing its position by 0.14% to 2.17 million shares valued at approximately $20.5 million.
- The purchase continues a series of recent acquisitions by Saba, which has bought shares in multiple transactions since August, signaling sustained buying activity by the major shareholder.
- GRX shares opened at $9.64, while the trust recently paid a quarterly dividend of $0.17 per share, equivalent to a 7.1% annualized yield.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,955 shares of the stock in a transaction on Wednesday, October 7th. The shares were purchased at an average cost of $9.43 per share, with a total value of $27,865.65. Following the transaction, the insider owned 2,171,941 shares of the company's stock, valued at $20,481,403.63. This trade represents a 0.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large 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 Tuesday, October 6th, Saba Capital Management, L.P. acquired 4,439 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.41 per share, for a total transaction of $41,770.99.
- On Monday, October 5th, Saba Capital Management, L.P. acquired 1,775 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.38 per share, for a total transaction of $16,649.50.
- On Thursday, October 1st, Saba Capital Management, L.P. acquired 5,720 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.41 per share, for a total transaction of $53,825.20.
- On Friday, October 2nd, Saba Capital Management, L.P. bought 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $9.35 per share, with a total value of $4,675.00.
- On Wednesday, September 30th, Saba Capital Management, L.P. bought 519 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $9.52 per share, with a total value 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 price 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 cost of $10.08 per share, for a total transaction 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 acquired at an average cost of $10.05 per share, for a total transaction 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 shares were acquired at an average price of $10.13 per share, for a total transaction 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 shares were acquired at an average price of $10.13 per share, for a total transaction of $244,153.26.
The Gabelli Healthcare & Wellness Trust Stock Up 0.4%
Shares of The Gabelli Healthcare & Wellness Trust stock opened at $9.64 on Friday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.20. The company has a fifty day moving average price of $9.82 and a 200 day moving average price of $9.43.
The Gabelli Healthcare & Wellness Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Wednesday, September 16th.
Institutional Trading of The Gabelli Healthcare & Wellness Trust
Several large investors have recently bought and sold shares of GRX. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter worth $90,000. Gamco Investors INC. ET AL lifted its holdings in The Gabelli Healthcare & Wellness Trust by 1.1% in the 1st 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 in the last quarter. Aviance Capital Partners LLC boosted its position 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 buying an additional 3,482 shares during the last quarter. Fifth Third Bancorp purchased a new position in The Gabelli Healthcare & Wellness Trust in the 1st quarter valued at about $33,000. Finally, Private Advisor Group LLC grew its stake 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 acquiring an additional 4,000 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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