The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Shares Pass Below 200-Day Moving Average – Here’s What Happened

The Gabelli Healthcare & Wellness Trust (NYSE:GRX)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.50 and traded as low as $9.27. The Gabelli Healthcare & Wellness Trust shares last traded at $9.27, with a volume of 23,339 shares changing hands.

The Gabelli Healthcare & Wellness Trust Trading Down 1.5%

The business’s 50-day moving average is $9.70 and its 200-day moving average is $9.50.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Tuesday, March 17th.

Insider Buying and Selling at The Gabelli Healthcare & Wellness Trust

In other news, insider Mario J. Gabelli bought 4,810 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was bought at an average price of $9.58 per share, for a total transaction of $46,079.80. Following the completion of the purchase, the insider owned 316,026 shares of the company’s stock, valued at approximately $3,027,529.08. The trade was a 1.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 1,905,800 shares of company stock worth $19,055,564 over the last three months.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

A number of large investors have recently bought and sold shares of GRX. Sit Investment Associates Inc. raised its position in The Gabelli Healthcare & Wellness Trust by 23.7% in the 4th quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company’s stock valued at $9,932,000 after purchasing an additional 197,594 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in The Gabelli Healthcare & Wellness Trust in the fourth quarter worth $1,722,000. Traub Capital Management LLC bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the second quarter worth $1,142,000. &PARTNERS acquired a new stake in shares of The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at $1,143,000. Finally, Saba Capital Management L.P. increased its stake in shares of The Gabelli Healthcare & Wellness Trust by 3.3% in the fourth quarter. Saba Capital Management L.P. now owns 2,118,201 shares of the investment management company’s stock valued at $20,398,000 after buying an additional 67,166 shares in the last quarter.

About The Gabelli Healthcare & Wellness Trust

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end management investment company that seeks both capital appreciation and current income. The trust primarily invests in equity and equity-related securities of companies operating in the healthcare and wellness sectors. Trading on the New York Stock Exchange under the symbol GRX, the fund provides investors with exposure to growth opportunities in healthcare through its closed-end structure.

The trust’s portfolio is diversified across a broad range of healthcare sub-industries, including pharmaceuticals, biotechnology, medical devices, and healthcare services.