Gabelli Healthcare & WellnessRx Trust: Saba Capital Buys 440 Shares at $9.47/Share

Gabelli Healthcare & WellnessRx Trust (GRX) has disclosed that Saba Capital Management, L.P., a 10% owner of the company, has acquired 440 shares at a price of $9.47 per share on April 23, 2025.

Gabelli Healthcare & WellnessRx Trust (GRX) has disclosed that Saba Capital Management, L.P., a 10% owner of the company, has acquired an additional 440 shares at a price of $9.47 per share on April 23, 2025. This transaction follows a series of significant changes in institutional ownership of Saba Capital Income & Opportunities Fund II (NYSE: SABA).

According to the latest SEC filings, Envestnet Asset Management Inc. increased its position in SABA by 36.0% in the fourth quarter, owning 698,491 shares valued at $6,328,000 [1]. This substantial increase in holdings by a major institutional investor underscores the fund's appeal to large-scale investors. Other institutional investors, such as Tidal Investments LLC, Independent Advisor Alliance, Gilman Hill Asset Management LLC, Janney Montgomery Scott LLC, and Garden State Investment Advisory Services LLC, also modified their holdings in SABA during the fourth quarter [1].

The recent acquisition by Saba Capital Management of 440 shares of GRX at $9.47 per share aligns with its strategic focus on fixed income markets and its role as a significant shareholder in GRX. This move comes amidst broader market trends where institutional investors are increasingly seeking stable, dividend-paying assets.

SABA's stock performance has been relatively steady, trading up $0.18 on April 24, 2025, reaching $8.24. The stock's 12-month low is $7.44, and its 12-month high is $9.43, indicating a stable yet modest range [1]. The fund recently announced a monthly dividend of $0.058 per share, paid on April 30, 2025, representing an annualized dividend of $0.70 and a dividend yield of 8.45% [1].

Saba Capital Management's legal action against ASA Gold and Precious Metals (ASA) over the company's poison pill strategy further highlights the firm's commitment to shareholder interests and sound governance principles. Saba Capital Management owns 17.2% of ASA and has filed a lawsuit challenging the repeated readoption of an unlawful poison pill [2]. This legal action underscores the firm's proactive approach in advocating for shareholder rights and adherence to federal laws.

In conclusion, Saba Capital Management's increased stake in GRX and its ongoing legal action against ASA reflect the firm's strategic and activist approach to investment. The stability of SABA's stock performance and its attractive dividend yield make it an attractive investment for income-focused investors.

References:
[1] https://www.marketbeat.com/instant-alerts/envestnet-asset-management-inc-buys-184965-shares-of-saba-capital-income-opportunities-fund-ii-nysesaba-2025-04-21/
[2] https://www.gurufocus.com/news/2790403/saba-capital-files-lawsuit-against-asa-gold-and-precious-metals-and-its-legacy-directors-over-latest-unlawful-poison-pill-asa-stock-news