The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.32 and traded as low as $9.86. The Gabelli Healthcare & Wellness Trust shares last traded at $9.89, with a volume of 7,829 shares trading hands.

The Gabelli Healthcare & Wellness Trust Price Performance

The company’s 50 day moving average is $10.04 and its two-hundred day moving average is $10.32.

The Gabelli Healthcare & Wellness Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Monday, March 17th.

Insider Activity

In other news, insider Mario J. Gabelli bought 4,000 shares of the stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $9.80 per share, with a total value of $39,200.00. Following the completion of the purchase, the insider now owns 235,872 shares of the company’s stock, valued at approximately $2,311,545.60. This trade represents a 1.73 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 9,437 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $10.18 per share, with a total value of $96,068.66. Following the acquisition, the insider now directly owns 1,955,839 shares in the company, valued at $19,910,441.02. This trade represents a 0.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 47,872 shares of company stock worth $472,463.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. grew its stake in The Gabelli Healthcare & Wellness Trust by 3.5% in the fourth quarter. Saba Capital Management L.P. now owns 1,911,034 shares of the investment management company’s stock valued at $18,422,000 after purchasing an additional 64,135 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of The Gabelli Healthcare & Wellness Trust by 21.4% in the 4th quarter. Wells Fargo & Company MN now owns 427,010 shares of the investment management company’s stock valued at $4,116,000 after purchasing an additional 75,148 shares during the period. Sit Investment Associates Inc. lifted its stake in The Gabelli Healthcare & Wellness Trust by 83.1% in the 4th quarter. Sit Investment Associates Inc. now owns 367,035 shares of the investment management company’s stock valued at $3,538,000 after purchasing an additional 166,619 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in The Gabelli Healthcare & Wellness Trust by 10.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 342,226 shares of the investment management company’s stock worth $3,299,000 after purchasing an additional 33,000 shares during the period. Finally, LPL Financial LLC increased its position in The Gabelli Healthcare & Wellness Trust by 252.9% during the fourth quarter. LPL Financial LLC now owns 280,349 shares of the investment management company’s stock worth $2,703,000 after buying an additional 200,905 shares during the last quarter.

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.