Insider Buying: The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Major Shareholder Acquires 2,869 Shares of Stock

Posted by Tech Dows on Nov 30th, 2024

The Gabelli Healthcare & Wellness Trust (NYSE:GRX – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 2,869 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $10.42 per share, for a total transaction of $29,894.98. Following the completion of the acquisition, the insider now directly owns 1,884,161 shares in the company, valued at approximately $19,632,957.62. The trade was a 0.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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 25th, Saba Capital Management, L.P. acquired 4,341 shares of The Gabelli Healthcare & Wellness Trust stock. The shares were purchased at an average cost of $10.24 per share, for a total transaction of $44,451.84.
On Friday, November 22nd, Saba Capital Management, L.P. purchased 4,876 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.16 per share, for a total transaction of $49,540.16.
On Monday, November 4th, Saba Capital Management, L.P. purchased 5,364 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.36 per share, for a total transaction of $55,571.04.
On Friday, November 1st, Saba Capital Management, L.P. purchased 3,448 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $10.33 per share, for a total transaction 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 cost of $10.59 per share, for a total transaction of $110,570.19.
On Thursday, September 26th, Saba Capital Management, L.P. purchased 11,345 shares of The Gabelli Healthcare & Wellness Trust stock. The stock was bought at an average cost of $11.12 per share, for a total transaction of $126,156.40.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of NYSE:GRX traded up $0.12 during midday trading on Friday, reaching $10.42. The company had a trading volume of 11,067 shares, compared to its average volume of 31,545. The company’s 50 day moving average price is $10.60 and its 200 day moving average price is $10.31. The Gabelli Healthcare & Wellness Trust has a 52-week low of $8.71 and a 52-week high of $11.24.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRX. International Assets Investment Management LLC bought a new stake in The Gabelli Healthcare & Wellness Trust in the 2nd quarter valued at about $53,000. Quarry LP bought a new stake in The Gabelli Healthcare & Wellness Trust in the 3rd quarter valued at about $72,000. Capstone Investment Advisors LLC bought a new stake in The Gabelli Healthcare & Wellness Trust in the 3rd quarter valued at about $191,000. Sanctuary Advisors LLC bought a new stake in The Gabelli Healthcare & Wellness Trust in the 2nd quarter valued at about $1,056,000. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of The Gabelli Healthcare & Wellness Trust by 26.7% during the second 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 buying an additional 24,430 shares during the period.

The Gabelli Healthcare & Wellness Trust Company Profile

(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.