Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires 19,481 Shares of Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. bought 19,481 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $10.47 per share, for a total transaction of $203,966.07. Following the acquisition, the insider now directly owns 1,822,749 shares of the company’s stock, valued at approximately $19,084,182.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Wednesday, August 7th, Saba Capital Management, L.P. bought 20,714 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.22 per share, for a total transaction of $211,697.08.
• On Friday, August 2nd, Saba Capital Management, L.P. bought 1,200 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.43 per share, for a total transaction of $12,516.00.
• On Monday, July 29th, Saba Capital Management, L.P. bought 10,903 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought 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 stock was acquired at an average price of $10.19 per share, for a total transaction of $370,620.49.
• On Tuesday, July 23rd, Saba Capital Management, L.P. purchased 22,571 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $10.08 per share, for a total transaction of $227,515.68.
• On Wednesday, July 10th, Saba Capital Management, L.P. acquired 29,088 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average price of $9.52 per share, for a total transaction of $276,917.76.

The Gabelli Healthcare & Wellness Trust Trading Up 0.1 %

GRX stock traded up $0.01 during mid-day trading on Monday, reaching $10.47. 15,401 shares of the stock traded hands, compared to its average volume of 36,586. The Gabelli Healthcare & Wellness Trust has a one year low of $7.73 and a one year high of $10.60. The business has a 50-day moving average price of $9.86 and a two-hundred day moving average price of $9.78.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Thursday, June 13th.

Institutional Trading of The Gabelli Healthcare & Wellness Trust

A number of hedge funds have recently added to or reduced their stakes in GRX. International Assets Investment Management LLC purchased a new stake in The Gabelli Healthcare & Wellness Trust in the fourth quarter worth about $479,000. Cerity Partners LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 10.5% in the fourth quarter. Cerity Partners LLC now owns 11,347 shares of the investment management company’s stock worth $106,000 after acquiring an additional 1,076 shares during the period. Wolverine Asset Management LLC lifted its stake in The Gabelli Healthcare & Wellness Trust by 25.5% in the fourth quarter. Wolverine Asset Management LLC now owns 167,524 shares of the investment management company’s stock worth $1,563,000 after acquiring an additional 34,019 shares during the period. Matisse Capital purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at about $284,000. Finally, Cornerstone Advisors LLC lifted its position in shares of The Gabelli Healthcare & Wellness Trust by 7.5% during the fourth quarter. Cornerstone Advisors LLC now owns 310,720 shares of the investment management company’s stock valued at $2,899,000 after buying an additional 21,613 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.