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

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 12,100 shares, a drop of 48.1% from the February 13th total of 23,300 shares. Based on an average trading volume of 28,600 shares, the days-to-cover ratio is presently 0.4 days.

The Gabelli Healthcare & Wellness Trust Stock Up 0.7 %

Shares of GRX traded up $0.07 during trading hours on Friday, reaching $9.96. 5,090 shares of the stock traded hands, compared to its average volume of 28,958. The Gabelli Healthcare & Wellness Trust has a 52 week low of $9.21 and a 52 week high of $11.24. The stock has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $10.34.

The Gabelli Healthcare & Wellness Trust Announces Dividend

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

Insider Activity at The Gabelli Healthcare & Wellness Trust

In related news, major shareholder Saba Capital Management, L.P. bought 20,408 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $9.74 per share, for a total transaction of $198,773.92. Following the completion of the acquisition, the insider now directly owns 1,911,034 shares of the company’s stock, valued at $18,613,471.16. This trade represents a 1.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mario J. Gabelli purchased 4,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average cost of $9.80 per share, with a total value of $39,200.00. Following the completion of the transaction, the insider now directly owns 235,872 shares in the company, valued at $2,311,545.60. The trade was a 1.73 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 67,731 shares of company stock valued at $665,813.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Several institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in The Gabelli Healthcare & Wellness Trust during the third quarter worth $72,000. Winebrenner Capital Management LLC purchased a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter valued at $125,000. Independent Advisor Alliance bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 4th quarter worth $147,000. Raymond James Financial Inc. purchased a new position in shares of The Gabelli Healthcare & Wellness Trust in the 4th quarter worth about $171,000. Finally, Capstone Investment Advisors LLC bought a new position in The Gabelli Healthcare & Wellness Trust during the third quarter valued at about $191,000.

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.