The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Saba Capital Management, L.P. Buys 3,448 Shares

Posted by Tyrone Williams on Nov 5th, 2024

The Gabelli Healthcare & Wellness Trust (NYSE:GRX – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 3,448 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $10.33 per share, for a total transaction of $35,617.84. Following the completion of the acquisition, the insider now directly owns 1,860,788 shares in the company, valued at $19,221,940.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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 Thursday, October 24th, Saba Capital Management, L.P. acquired 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 bought at an average cost of $11.12 per share, with a total value of $126,156.40.
On Monday, August 26th, Saba Capital Management, L.P. purchased 6,453 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.88 per share, for a total transaction of $70,208.64.
On Thursday, August 22nd, Saba Capital Management, L.P. acquired 4,205 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.69 per share, with a total value of $44,951.45.
On Friday, August 9th, Saba Capital Management, L.P. bought 19,481 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was purchased at an average price of $10.47 per share, for a total transaction of $203,966.07.
On Wednesday, August 7th, Saba Capital Management, L.P. purchased 20,714 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.22 per share, for a total transaction of $211,697.08.

The Gabelli Healthcare & Wellness Trust Stock Performance

Shares of The Gabelli Healthcare & Wellness Trust stock opened at $10.38 on Tuesday. The Gabelli Healthcare & Wellness Trust has a 52-week low of $8.10 and a 52-week high of $11.24. The stock’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $10.21.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date was Monday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRX. International Assets Investment Management LLC purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the second quarter worth $53,000. Sanctuary Advisors LLC purchased a new stake in The Gabelli Healthcare & Wellness Trust during the 2nd quarter worth about $1,056,000. Blue Bell Private Wealth Management LLC boosted its stake in 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 worth $1,111,000 after purchasing an additional 24,430 shares during the period. Cetera Investment Advisers grew its holdings in The Gabelli Healthcare & Wellness Trust by 1.4% during the 2nd quarter. Cetera Investment Advisers now owns 225,215 shares of the investment management company’s stock valued at $2,158,000 after buying an additional 3,020 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in The Gabelli Healthcare & Wellness Trust during the 1st quarter valued at about $2,254,000.

About The Gabelli Healthcare & Wellness Trust

(Get Free Report)

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.