Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires 1,284 Shares of Company Stock

by · The Markets Daily

The Gabelli Healthcare & Wellness Trust (NYSE:GRX – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,284 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $12,840.00. Following the completion of the transaction, the insider owned 2,173,825 shares of the company’s stock, valued at $21,738,250. This trade represents a 0.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Thursday, October 15th, Saba Capital Management, L.P. acquired 200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $9.88 per share, with a total value of $1,976.00.
  • On Thursday, October 8th, Saba Capital Management, L.P. acquired 400 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired 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. bought 2,955 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired 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 stock was bought 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 bought at an average price 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 bought 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 stock was bought 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 bought at an average price of $9.52 per share, with a total value of $4,940.88.
  • On Friday, September 11th, Saba Capital Management, L.P. bought 400 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $9.71 per share, with a total value of $3,884.00.
  • On Thursday, September 3rd, Saba Capital Management, L.P. bought 500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $10.08 per share, for a total transaction of $5,040.00.

The Gabelli Healthcare & Wellness Trust Stock Performance

Shares of GRX traded up $0.03 during trading hours on Tuesday, hitting $10.03. 5,218 shares of the company were exchanged, compared to its average volume of 25,532. The Gabelli Healthcare & Wellness Trust has a fifty-two week low of $8.80 and a fifty-two week high of $10.20. The firm’s fifty day moving average is $9.83 and its 200 day moving average is $9.52.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company 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 of this dividend was Wednesday, September 16th. This represents a $0.68 annualized dividend and a yield of 6.8%.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Several hedge funds have recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The Gabelli Healthcare & Wellness Trust during the first quarter worth about $90,000. Gamco Investors INC. ET AL increased its holdings 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 worth $3,132,000 after buying an additional 3,800 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in shares of The Gabelli Healthcare & Wellness Trust by 2.1% during the first quarter. Aviance Capital Partners LLC now owns 171,325 shares of the investment management company’s stock worth $1,550,000 after buying an additional 3,482 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of The Gabelli Healthcare & Wellness Trust during the first quarter worth $33,000. Finally, Private Advisor Group LLC lifted its stake in shares of The Gabelli Healthcare & Wellness Trust by 25.2% in the 1st 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 during the last quarter.

The Gabelli Healthcare & Wellness Trust Company Profile

(Get Free Report)

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end investment company focused on long-term capital appreciation. Rather than operating healthcare businesses directly, the trust invests primarily in the equity securities of companies involved in the healthcare and wellness industries.

Its investment universe may include pharmaceutical and biotechnology companies, medical-device manufacturers, healthcare-services providers, and businesses serving broader consumer wellness markets.

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