Key Points
- Saba Capital Management bought 1,201 GRX shares at an average $10.15 each, spending about $12,190. It now owns 2,186,022 shares, valued at approximately $22.2 million.
- The purchase adds to a series of recent acquisitions by Saba, including 10,196 shares bought on October 30.
- GRX opened at $10.31, up 1.1%, and recently paid a quarterly dividend of $0.17 per share, equivalent to a 6.6% annualized yield.
The Gabelli Healthcare & Wellness Trust (NYSE:GRX - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,201 shares of the business's stock in a transaction dated Monday, November 2nd. The stock was purchased at an average price of $10.15 per share, for a total transaction of $12,190.15. Following the completion of the acquisition, the insider owned 2,186,022 shares of the company's stock, valued at approximately $22,188,123.30. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% 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 Friday, October 30th, Saba Capital Management, L.P. acquired 10,196 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.13 per share, with a total value of $103,285.48.
- On Thursday, October 29th, Saba Capital Management, L.P. acquired 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.09 per share, with a total value of $5,045.00.
- On Tuesday, October 27th, Saba Capital Management, L.P. acquired 300 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.99 per share, with a total value of $2,997.00.
- On Monday, October 26th, Saba Capital Management, L.P. acquired 1,284 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $10.00 per share, with a total value 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 purchased at an average cost 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 stock was purchased at an average cost of $9.40 per share, for a total transaction of $3,760.00.
- On Wednesday, October 7th, Saba Capital Management, L.P. bought 2,955 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $9.43 per share, for a total transaction 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 cost 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 shares were purchased at an average cost of $9.38 per share, with a total value of $16,649.50.
- On Thursday, October 1st, Saba Capital Management, L.P. purchased 5,720 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average cost of $9.41 per share, with a total value of $53,825.20.
The Gabelli Healthcare & Wellness Trust Stock Up 1.1%
Shares of GRX opened at $10.31 on Wednesday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $8.80 and a twelve month high of $10.29. The company has a 50 day moving average of $9.85 and a 200-day moving average of $9.53.
The Gabelli Healthcare & Wellness Trust Dividend Announcement
The firm 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. The ex-dividend date was Wednesday, September 16th. This represents a $0.68 annualized dividend and a yield of 6.6%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 1st quarter valued at $33,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Gabelli Healthcare & Wellness Trust during the 1st quarter worth about $90,000. International Assets Investment Management LLC lifted its position in The Gabelli Healthcare & Wellness Trust by 23.7% during the 3rd quarter. International Assets Investment Management LLC now owns 13,000 shares of the investment management company's stock worth $124,000 after buying an additional 2,492 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 25.2% during the 1st quarter. Private Advisor Group LLC now owns 19,888 shares of the investment management company's stock worth $180,000 after buying an additional 4,000 shares during the last quarter. Finally, Uhlmann Price Securities LLC boosted its stake in shares of The Gabelli Healthcare & Wellness Trust by 4.6% during the 3rd quarter. Uhlmann Price Securities LLC now owns 81,269 shares of the investment management company's stock worth $773,000 after buying an additional 3,569 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 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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