The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.39 and traded as low as $9.08. The Gabelli Healthcare & Wellness Trust shares last traded at $9.23, with a volume of 43,545 shares changing hands.

The Gabelli Healthcare & Wellness Trust Stock Performance

The stock has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $9.39.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Tuesday, September 16th.

Insider Transactions at The Gabelli Healthcare & Wellness Trust

In other news, major shareholder Saba Capital Management, L.P. purchased 20,808 shares of the stock in a transaction on Thursday, October 23rd. The stock was purchased at an average price of $9.28 per share, with a total value of $193,098.24. Following the completion of the transaction, the insider owned 2,088,354 shares in the company, valued at approximately $19,379,925.12. The trade was a 1.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 72,293 shares of company stock worth $678,185 over the last ninety days.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

Several institutional investors and hedge funds have recently modified their holdings of GRX. Traub Capital Management LLC purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust in the second quarter worth about $1,142,000. Sit Investment Associates Inc. boosted its holdings in The Gabelli Healthcare & Wellness Trust by 16.1% in the 1st quarter. Sit Investment Associates Inc. now owns 426,290 shares of the investment management company’s stock worth $4,297,000 after acquiring an additional 59,255 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 15.4% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 277,858 shares of the investment management company’s stock worth $2,520,000 after acquiring an additional 37,156 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 103.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,768 shares of the investment management company’s stock worth $489,000 after acquiring an additional 25,848 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in The Gabelli Healthcare & Wellness Trust in the 3rd quarter worth approximately $216,000.

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.