Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires $61,913.70 in Stock

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) major shareholder Saba Capital Management, L.P. purchased 6,210 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.97 per share, for a total transaction of $61,913.70. Following the completion of the acquisition, the insider now directly owns 1,943,717 shares in the company, valued at $19,378,858.49. The trade was a 0.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Monday, March 10th, Saba Capital Management, L.P. bought 9,437 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $10.18 per share, for a total transaction of $96,068.66.
• On Tuesday, March 4th, Saba Capital Management, L.P. bought 4,388 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average price of $9.96 per share, for a total transaction of $43,704.48.
• On Thursday, February 27th, Saba Capital Management, L.P. acquired 955 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired 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. acquired 1,500 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were acquired at an average price of $10.27 per share, for a total transaction of $15,405.00.
• On Friday, January 10th, Saba Capital Management, L.P. bought 14,833 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased 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 shares were purchased at an average cost of $9.74 per share, with a total value of $198,773.92.

The Gabelli Healthcare & Wellness Trust Price Performance

NYSE:GRX opened at $10.00 on Thursday. The Gabelli Healthcare & Wellness Trust has a 52 week low of $9.21 and a 52 week high of $11.24. The firm has a 50 day moving average of $10.02 and a 200 day moving average of $10.36.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 6.00%.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

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

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.