The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Short Interest Update

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 13,500 shares, a growth of 23.9% from the March 15th total of 10,900 shares. Based on an average trading volume of 24,000 shares, the days-to-cover ratio is presently 0.6 days.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 4,388 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $9.96 per share, for a total transaction of $43,704.48. Following the acquisition, the insider now directly owns 1,937,507 shares in the company, valued at approximately $19,297,569.72. The trade was a 0.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 40,895 shares of company stock worth $403,988.

Hedge Funds Weigh In On The Gabelli Healthcare & Wellness Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRX. LPL Financial LLC lifted its stake in shares of The Gabelli Healthcare & Wellness Trust by 252.9% in the fourth quarter. LPL Financial LLC now owns 280,349 shares of the investment management company’s stock valued at $2,703,000 after buying an additional 200,905 shares during the period. Sit Investment Associates Inc. lifted its position in shares of The Gabelli Healthcare & Wellness Trust by 83.1% during the 4th quarter. Sit Investment Associates Inc. now owns 367,035 shares of the investment management company’s stock worth $3,538,000 after buying an additional 166,619 shares during the period. Absolute Investment Advisers LLC acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 4th quarter valued at $813,000. Capstone Investment Advisors LLC grew its position in The Gabelli Healthcare & Wellness Trust by 469.5% in the fourth quarter. Capstone Investment Advisors LLC now owns 99,441 shares of the investment management company’s stock valued at $959,000 after acquiring an additional 81,981 shares during the period. Finally, Wells Fargo & Company MN raised its stake in The Gabelli Healthcare & Wellness Trust by 21.4% during the fourth quarter. Wells Fargo & Company MN now owns 427,010 shares of the investment management company’s stock worth $4,116,000 after acquiring an additional 75,148 shares in the last quarter.

The Gabelli Healthcare & Wellness Trust Price Performance

GRX traded up $0.02 during trading on Friday, reaching $9.43. 15,744 shares of the stock traded hands, compared to its average volume of 28,666. The Gabelli Healthcare & Wellness Trust has a fifty-two week low of $9.03 and a fifty-two week high of $11.24. The stock’s 50-day simple moving average is $9.87 and its two-hundred day simple moving average is $10.10.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.37%.

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.