Key Points
- Saba Capital Management purchased 10,196 GRX shares at an average price of $10.13, investing $103,285.48 and increasing its position by 0.47% to 2,184,821 shares.
- The purchase was part of a broader series of October acquisitions by Saba Capital, which bought additional GRX shares in multiple transactions at prices ranging from $9.35 to $10.09.
- GRX shares opened at $10.21, near their 12-month high of $10.23, while the trust pays a quarterly dividend of $0.17, equivalent to an annualized yield of approximately 6.7%.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. bought 10,196 shares of the company's stock in a transaction on Friday, October 30th. The stock was purchased at an average price of $10.13 per share, with a total value of $103,285.48. Following the completion of the transaction, the insider directly owned 2,184,821 shares of the company's stock, valued at approximately $22,132,236.73. The trade was a 0.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Thursday, October 29th, Saba Capital Management, L.P. purchased 500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $10.09 per share, with a total value of $5,045.00.
- On Tuesday, October 27th, Saba Capital Management, L.P. purchased 300 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $9.99 per share, for a total transaction of $2,997.00.
- On Monday, October 26th, Saba Capital Management, L.P. purchased 1,284 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $10.00 per share, for a total transaction of $12,840.00.
- On Thursday, October 15th, Saba Capital Management, L.P. bought 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.88 per share, for a total transaction of $1,976.00.
- On Thursday, October 8th, Saba Capital Management, L.P. bought 400 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $9.40 per share, with a total value of $3,760.00.
- On Wednesday, October 7th, Saba Capital Management, L.P. purchased 2,955 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.43 per share, with a total value of $27,865.65.
- On Tuesday, October 6th, Saba Capital Management, L.P. purchased 4,439 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.41 per share, with a total value of $41,770.99.
- On Monday, October 5th, Saba Capital Management, L.P. purchased 1,775 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price 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. acquired 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.35 per share, with a total value of $4,675.00.
The Gabelli Healthcare & Wellness Trust Price Performance
Shares of NYSE GRX opened at $10.21 on Tuesday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.23. The firm has a fifty day simple moving average of $9.84 and a 200 day simple moving average of $9.53.
The Gabelli Healthcare & Wellness Trust Announces Dividend
The firm also recently declared 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 6.7%. The ex-dividend date was Wednesday, September 16th.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in GRX. Fifth Third Bancorp acquired a new stake in The Gabelli Healthcare & Wellness Trust during the first quarter worth approximately $33,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Gabelli Healthcare & Wellness Trust in the first quarter worth approximately $90,000. International Assets Investment Management LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 23.7% in the third quarter. International Assets Investment Management LLC now owns 13,000 shares of the investment management company's stock valued at $124,000 after buying an additional 2,492 shares during the period. Private Advisor Group LLC lifted its stake in 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 buying an additional 4,000 shares during the period. Finally, 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.
The Gabelli Healthcare & Wellness Trust Company Profile
(
Get Free Report)
The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end management investment company focused on long-term growth of capital. Rather than operating healthcare facilities or selling healthcare products directly, the trust invests in the securities of companies involved in healthcare and wellness.
Its portfolio may include companies across areas such as pharmaceuticals, biotechnology, medical devices, healthcare services, diagnostics, consumer health, fitness and other wellness-related industries.
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