Saba Capital Management, L.P. Acquires 4,876 Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 4,876 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $10.16 per share, with a total value of $49,540.16. Following the completion of the acquisition, the insider now directly owns 1,871,028 shares in the company, valued at $19,009,644.48. The trade was a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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 Monday, November 4th, Saba Capital Management, L.P. acquired 5,364 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average price of $10.36 per share, for a total transaction 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 shares were acquired at an average price of $10.33 per share, with a total value 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 price of $10.59 per share, for a total transaction of $110,570.19.
• On Thursday, September 26th, Saba Capital Management, L.P. acquired 11,345 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average price of $11.12 per share, with a total value of $126,156.40.

The Gabelli Healthcare & Wellness Trust Price Performance

NYSE:GRX traded up $0.12 during midday trading on Monday, hitting $10.26. 23,059 shares of the company were exchanged, compared to its average volume of 31,766. The Gabelli Healthcare & Wellness Trust has a fifty-two week low of $8.62 and a fifty-two week high of $11.24. The company has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $10.31.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust during the first quarter worth about $2,254,000. Sanctuary Advisors LLC purchased a new stake in The Gabelli Healthcare & Wellness Trust during the 2nd quarter valued at approximately $1,056,000. International Assets Investment Management LLC lifted its position in The Gabelli Healthcare & Wellness Trust by 995.0% during the 3rd quarter. International Assets Investment Management LLC now owns 60,838 shares of the investment management company’s stock worth $666,000 after acquiring an additional 55,282 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in shares of The Gabelli Healthcare & Wellness Trust by 26.7% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 115,919 shares of the investment management company’s stock valued at $1,111,000 after purchasing an additional 24,430 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of The Gabelli Healthcare & Wellness Trust in the 3rd quarter valued at approximately $191,000.

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.