Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires $12,516.00 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. acquired 1,200 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $10.43 per share, for a total transaction of $12,516.00. Following the completion of the transaction, the insider now owns 1,781,743 shares in the company, valued at $18,583,579.49. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, July 29th, Saba Capital Management, L.P. bought 10,903 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $10.34 per share, for a total transaction of $112,737.02.
• On Thursday, July 25th, Saba Capital Management, L.P. purchased 36,371 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.19 per share, with a total value of $370,620.49.
• On Tuesday, July 23rd, Saba Capital Management, L.P. acquired 22,571 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $10.08 per share, for a total transaction of $227,515.68.
• On Wednesday, July 10th, Saba Capital Management, L.P. bought 29,088 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 $276,917.76.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of GRX stock opened at $10.15 on Thursday. The business’s fifty day moving average price is $9.82 and its 200 day moving average price is $9.76. The Gabelli Healthcare & Wellness Trust has a 1-year low of $7.73 and a 1-year high of $10.60.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 5.91%.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

A number of large investors have recently made changes to their positions in GRX. Blue Bell Private Wealth Management LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 26.7% during the second quarter. Blue Bell Private Wealth Management LLC now owns 115,919 shares of the investment management company’s stock worth $1,111,000 after buying an additional 24,430 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 2nd quarter worth approximately $53,000. Cetera Advisors LLC acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 1st quarter worth approximately $2,254,000. Cetera Investment Advisers increased its stake in The Gabelli Healthcare & Wellness Trust by 2.2% in the 1st quarter. Cetera Investment Advisers now owns 222,195 shares of the investment management company’s stock valued at $2,275,000 after purchasing an additional 4,818 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in The Gabelli Healthcare & Wellness Trust by 2.3% during the first quarter. Cornerstone Advisors LLC now owns 318,012 shares of the investment management company’s stock worth $3,256,000 after purchasing an additional 7,292 shares during the last quarter.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare and Wellness Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets across the globe. The fund seeks to invest in stocks of companies primarily operating in the healthcare and wellness sector.