Independent Advisor Alliance Makes New Investment in The Gabelli Healthcare & Wellness Trust (NYSE:GRX)

Independent Advisor Alliance purchased a new position in shares of The Gabelli Healthcare & Wellness Trust (NYSE:GRX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,225 shares of the investment management company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of The Gabelli Healthcare & Wellness Trust during the 3rd quarter worth about $72,000. Winebrenner Capital Management LLC acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 4th quarter valued at about $125,000. Raymond James Financial Inc. acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 4th quarter valued at about $171,000. Capstone Investment Advisors LLC acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 3rd quarter valued at about $191,000. Finally, Absolute Investment Advisers LLC acquired a new stake in The Gabelli Healthcare & Wellness Trust in the 4th quarter valued at about $813,000.

The Gabelli Healthcare & Wellness Trust Price Performance

Shares of NYSE GRX opened at $9.96 on Friday. The Gabelli Healthcare & Wellness Trust has a twelve month low of $9.21 and a twelve month high of $11.24. The firm has a 50-day moving average of $10.04 and a two-hundred day moving average of $10.32.

The Gabelli Healthcare & Wellness Trust Dividend Announcement

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

Insider Buying and Selling at The Gabelli Healthcare & Wellness Trust

In related news, insider Mario J. Gabelli purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average price of $9.80 per share, for a total transaction of $39,200.00. Following the transaction, the insider now directly owns 229,872 shares of the company’s stock, valued at $2,252,745.60. This trade represents a 1.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 4,388 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $9.96 per share, with a total value of $43,704.48. Following the transaction, the insider now directly owns 1,937,507 shares in the company, valued at $19,297,569.72. This trade represents a 0.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 47,872 shares of company stock valued at $472,463.

The Gabelli Healthcare & Wellness Trust 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.