The Gabelli Healthcare & Wellness Trust (NYSE:GRX) Shares Pass Below 200-Day Moving Average – Here’s Why

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.48 and traded as low as $8.97. The Gabelli Healthcare & Wellness Trust shares last traded at $9.01, with a volume of 26,788 shares changing hands.

The Gabelli Healthcare & Wellness Trust Trading Up 0.6%

The company’s fifty day moving average price is $9.63 and its 200 day moving average price is $9.48.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Tuesday, March 17th.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli acquired 1,000,000 shares of the company’s stock in a transaction on Friday, December 26th. The stock was purchased at an average cost of $10.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider directly owned 1,000,000 shares of the company’s stock, valued at approximately $10,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 1,905,800 shares of company stock valued at $19,055,564.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in The Gabelli Healthcare & Wellness Trust by 11.3% during the second quarter. Osaic Holdings Inc. now owns 28,443 shares of the investment management company’s stock worth $269,000 after purchasing an additional 2,880 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in The Gabelli Healthcare & Wellness Trust by 15.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 277,858 shares of the investment management company’s stock worth $2,520,000 after buying an additional 37,156 shares in the last quarter. Stephens Inc. AR increased its holdings in The Gabelli Healthcare & Wellness Trust by 10.2% in the 3rd quarter. Stephens Inc. AR now owns 120,989 shares of the investment management company’s stock valued at $1,097,000 after buying an additional 11,177 shares during the period. Wolverine Asset Management LLC bought a new position in The Gabelli Healthcare & Wellness Trust in the 3rd quarter valued at about $216,000. Finally, Aviance Capital Partners LLC raised its position in shares of The Gabelli Healthcare & Wellness Trust by 1.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 163,679 shares of the investment management company’s stock valued at $1,485,000 after buying an additional 1,773 shares in the last quarter.

The Gabelli Healthcare & Wellness Trust Company Profile

The Gabelli Healthcare & Wellness Trust (NYSE: GRX) is a closed-end management investment company that seeks both capital appreciation and current income. The trust primarily invests in equity and equity-related securities of companies operating in the healthcare and wellness sectors. Trading on the New York Stock Exchange under the symbol GRX, the fund provides investors with exposure to growth opportunities in healthcare through its closed-end structure.

The trust’s portfolio is diversified across a broad range of healthcare sub-industries, including pharmaceuticals, biotechnology, medical devices, and healthcare services.