Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires $96,068.66 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 9,437 shares of The Gabelli Healthcare & Wellness Trust stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $10.18 per share, for a total transaction of $96,068.66. Following the completion of the transaction, the insider now directly owns 1,955,839 shares of the company’s stock, valued at approximately $19,910,441.02. The trade was a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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, March 6th, Saba Capital Management, L.P. acquired 6,210 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.97 per share, with a total value of $61,913.70.
• On Tuesday, March 4th, Saba Capital Management, L.P. purchased 4,388 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was acquired at an average cost of $9.96 per share, with a total value of $43,704.48.
• On Thursday, February 27th, Saba Capital Management, L.P. acquired 955 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.89 per share, for a total transaction of $9,444.95.
• On Tuesday, January 28th, Saba Capital Management, L.P. purchased 1,500 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.27 per share, for a total transaction of $15,405.00.
• On Friday, January 10th, Saba Capital Management, L.P. acquired 14,833 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were bought at an average cost of $9.57 per share, with a total value of $141,951.81.
• On Wednesday, December 18th, Saba Capital Management, L.P. bought 20,408 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average cost of $9.74 per share, for a total transaction of $198,773.92.

The Gabelli Healthcare & Wellness Trust Price Performance

The Gabelli Healthcare & Wellness Trust stock traded down $0.06 during trading hours on Tuesday, reaching $10.05. The stock had a trading volume of 7,255 shares, compared to its average volume of 29,191. The company has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $10.37. The Gabelli Healthcare & Wellness Trust has a 52 week low of $9.21 and a 52 week high of $11.24.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in The Gabelli Healthcare & Wellness Trust in the third quarter worth $72,000. Winebrenner Capital Management LLC purchased a new position in shares of The Gabelli Healthcare & Wellness Trust during the fourth quarter valued at approximately $125,000. Independent Advisor Alliance bought a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 4th quarter worth approximately $147,000. Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the 4th quarter worth approximately $171,000. Finally, Capstone Investment Advisors LLC bought a new position in The Gabelli Healthcare & Wellness Trust during the 3rd quarter valued at approximately $191,000.

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.