The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.48 and traded as low as $8.97. The Gabelli Healthcare & Wellness Trust shares last traded at $9.01, with a volume of 26,788 shares traded.

The Gabelli Healthcare & Wellness Trust Price Performance

The company’s fifty day simple moving average is $9.63 and its 200 day simple moving average is $9.48.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.68 annualized dividend and a dividend yield of 7.5%.

Insider Buying and Selling

In related news, insider Mario J. Gabelli purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider owned 1,000,000 shares in the company, valued at approximately $10,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have bought 1,905,800 shares of company stock valued at $19,055,564.

Institutional Investors Weigh In On The Gabelli Healthcare & Wellness Trust

Institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. grew its position 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 purchasing an additional 67,166 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in The Gabelli Healthcare & Wellness Trust by 23.7% during the 4th quarter. Sit Investment Associates Inc. now owns 1,031,350 shares of the investment management company’s stock worth $9,932,000 after purchasing an additional 197,594 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in The Gabelli Healthcare & Wellness Trust by 9.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company’s stock valued at $3,296,000 after purchasing an additional 30,000 shares during the period. Blue Bell Private Wealth Management LLC grew its holdings in The Gabelli Healthcare & Wellness Trust by 5.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 292,672 shares of the investment management company’s stock valued at $2,818,000 after buying an additional 14,814 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in The Gabelli Healthcare & Wellness Trust by 2.1% in the 4th quarter. LPL Financial LLC now owns 291,560 shares of the investment management company’s stock valued at $2,808,000 after buying an additional 5,907 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.