The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

The Gabelli Healthcare & Wellness Trust (NYSE:GRX)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.41 and traded as low as $10.06. The Gabelli Healthcare & Wellness Trust shares last traded at $10.11, with a volume of 36,875 shares changing hands.

The Gabelli Healthcare & Wellness Trust Price Performance

The business’s 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $10.41.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.93%.

Insider Buying and Selling

In other news, insider Mario J. Gabelli purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of $9.80 per share, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 2,869 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $10.42 per share, with a total value of $29,894.98. Following the completion of the purchase, the insider now directly owns 1,884,161 shares of the company’s stock, valued at approximately $19,632,957.62. This represents a 0.15 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 73,847 shares of company stock worth $735,994.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in The Gabelli Healthcare & Wellness Trust in the third quarter worth about $72,000. Winebrenner Capital Management LLC acquired a new position in The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at approximately $125,000. Independent Advisor Alliance acquired a new position in The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at approximately $147,000. Raymond James Financial Inc. acquired a new position in The Gabelli Healthcare & Wellness Trust in the fourth quarter valued at approximately $171,000. Finally, Capstone Investment Advisors LLC acquired a new position in The Gabelli Healthcare & Wellness Trust in the third quarter valued at approximately $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.