Major Shareholder Invests Over $38,000 in Gabelli Healthcare Trust

Saba Capital Management, L.P., a significant shareholder in the Gabelli Healthcare & Wellness Trust (NYSE: GRX), purchased 4,084 shares of the trust’s stock on December 17, 2023. The shares were acquired at an average price of $9.36 each, resulting in a total investment of approximately $38,226.24. Following this transaction, Saba Capital now holds a total of 2,118,201 shares in the company, valued at around $19,826,361.36. This acquisition reflects a modest increase of 0.19% in Saba Capital’s ownership stake.

The purchase was formally disclosed in a filing with the Securities and Exchange Commission (SEC), as required for large shareholders owning at least 10% of a company’s stock. This level of transparency is critical for maintaining market integrity and investor confidence.

Stock Performance and Investor Activity

On the day following the purchase, Gabelli Healthcare & Wellness Trust shares opened at $9.63. The trust has seen a 52-week low of $8.93 and a 52-week high of $10.48. The average price over the past 50 days stands at $9.41, while the 200-day moving average is $9.38.

Recent activity among institutional investors indicates a growing interest in the Gabelli Healthcare & Wellness Trust. For instance, Gamco Investors INC. ET AL raised its holdings by 2.3% in the first quarter, acquiring an additional 7,883 shares to reach a total of 350,109 shares, valued at approximately $3,529,000.

Wealth Enhancement Advisory Services LLC significantly increased its stake by 103.7% during the second quarter, now owning 50,768 shares worth $489,000 after purchasing an additional 25,848 shares. Similarly, Wealthcare Advisory Partners LLC expanded its interest by 35.8%, acquiring 4,815 shares to bring its total to 18,273 shares, valued at $173,000.

Uhlmann Price Securities LLC also increased its holdings by 23.2% during the same quarter, bringing its total to 30,498 shares, worth around $288,000. Finally, Stephens Inc. AR lifted its stake by 1.5%, now owning 109,812 shares valued at $1,038,000.

About Gabelli Healthcare & Wellness Trust

The Gabelli Healthcare & Wellness Trust operates as a closed-end management investment company focused on capital appreciation and current income. Primarily investing in equity and equity-related securities within the healthcare and wellness sectors, the trust aims to provide investors with exposure to growth opportunities in this critical field.

Trading under the symbol GRX on the New York Stock Exchange, the fund encompasses a diverse portfolio that spans various sub-industries, including pharmaceuticals, biotechnology, medical devices, and healthcare services. The trust’s strategy is designed to maximize potential returns while capitalizing on the evolving landscape of healthcare and wellness markets.

Investors can stay informed about the Gabelli Healthcare & Wellness Trust’s performance and developments by subscribing to daily summaries of news and analyst ratings through MarketBeat.com.