The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Sees Significant Decrease in Short Interest

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 3,500 shares, a decrease of 28.6% from the August 15th total of 4,900 shares. Based on an average daily trading volume, of 28,200 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 28,200 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. acquired 19,101 shares of the stock in a transaction dated Thursday, August 21st. The stock was bought at an average price of $9.43 per share, with a total value of $180,122.43. Following the completion of the purchase, the insider directly owned 2,025,826 shares of the company’s stock, valued at $19,103,539.18. This represents a 0.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 74,160 shares of company stock valued at $698,547 over the last three months.

Institutional Trading of The Gabelli Healthcare & Wellness Trust

Several institutional investors have recently added to or reduced their stakes in GRX. Golden State Wealth Management LLC boosted its holdings in The Gabelli Healthcare & Wellness Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,622 shares of the investment management company’s stock valued at $37,000 after acquiring an additional 1,811 shares during the last quarter. Allworth Financial LP boosted its holdings in The Gabelli Healthcare & Wellness Trust by 98,440.0% in the second quarter. Allworth Financial LP now owns 4,927 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 4,922 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in The Gabelli Healthcare & Wellness Trust in the first quarter valued at approximately $78,000. Oppenheimer & Co. Inc. bought a new stake in The Gabelli Healthcare & Wellness Trust in the first quarter valued at approximately $113,000. Finally, Shaker Financial Services LLC bought a new stake in The Gabelli Healthcare & Wellness Trust in the first quarter valued at approximately $155,000.

The Gabelli Healthcare & Wellness Trust Stock Down 0.9%

The Gabelli Healthcare & Wellness Trust stock opened at $9.34 on Tuesday. The business has a 50 day moving average of $9.36 and a 200-day moving average of $9.54. The Gabelli Healthcare & Wellness Trust has a 1 year low of $8.93 and a 1 year high of $11.24.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 7.3%.

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.