Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Purchases 4,341 Shares of Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 4,341 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $10.24 per share, with a total value of $44,451.84. Following the acquisition, the insider now directly owns 1,875,369 shares in the company, valued at $19,203,778.56. This trade represents a 0.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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 Friday, November 22nd, Saba Capital Management, L.P. bought 4,876 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.16 per share, with a total value of $49,540.16.
• On Monday, November 4th, Saba Capital Management, L.P. acquired 5,364 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $10.36 per share, with a total value of $55,571.04.
• On Friday, November 1st, Saba Capital Management, L.P. bought 3,448 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $10.33 per share, for a total transaction of $35,617.84.
• On Thursday, October 24th, Saba Capital Management, L.P. purchased 10,441 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.59 per share, for a total transaction of $110,570.19.
• On Thursday, September 26th, Saba Capital Management, L.P. bought 11,345 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $11.12 per share, for a total transaction of $126,156.40.

The Gabelli Healthcare & Wellness Trust Stock Performance

Shares of NYSE GRX traded down $0.01 during trading hours on Tuesday, hitting $10.25. 10,280 shares of the stock were exchanged, compared to its average volume of 31,665. The Gabelli Healthcare & Wellness Trust has a 1-year low of $8.62 and a 1-year high of $11.24. The company’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $10.31.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.85%. The ex-dividend date is Friday, December 13th.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Several large investors have recently modified their holdings of the business. Sanctuary Advisors LLC raised its stake in shares of The Gabelli Healthcare & Wellness Trust by 24.8% during the third quarter. Sanctuary Advisors LLC now owns 139,740 shares of the investment management company’s stock valued at $1,417,000 after acquiring an additional 27,742 shares during the last quarter. Quarry LP bought a new position in The Gabelli Healthcare & Wellness Trust during the third quarter worth $72,000. Capstone Investment Advisors LLC bought a new position in The Gabelli Healthcare & Wellness Trust during the third quarter worth $191,000. Aviance Capital Partners LLC raised its stake in The Gabelli Healthcare & Wellness Trust by 1.0% during the third quarter. Aviance Capital Partners LLC now owns 129,307 shares of the investment management company’s stock worth $1,416,000 after buying an additional 1,224 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in The Gabelli Healthcare & Wellness Trust by 995.0% during the third quarter. International Assets Investment Management LLC now owns 60,838 shares of the investment management company’s stock worth $666,000 after buying an additional 55,282 shares during the last quarter.

About The Gabelli Healthcare & Wellness Trust

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.