RYE, N.Y., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE: GRX) (the “Fund”) declared a $0.15 per share cash distribution payable on December 20, 2024 to common shareholders of record on December 13, 2024.
Gabelli Healthcare & Wellness Trust (GRX) is a closed-end fund with a significant discount and historically has underperformed its peers. GRX's discount could potentially be realized as Saba Capital Management has grown its stake in the fund this year. Typically, a distribution increase is the main go-to tool, but tender offers or mergers are also an option.
RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) (the “Fund”) declared a $0.15 per share cash distribution payable on September 23, 2024 to common shareholders of record on September 16, 2024.
The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust announced a cash distribution of $0.15 per share for common shareholders of record on June 13, 2024, payable on June 21, 2024.
The Gabelli Healthcare & WellnessRx Trust is an underperforming equity closed-end fund (CEF) focused on healthcare stocks. GRX has a -19% discount to net asset value, but has traded at very substantial discounts for the past five years. The fund employs a 27% leverage ratio, which has hampered its performance in 2023.
The Gabelli Healthcare & Wellness Rx Trust seeks to provide capital gains and income from a portfolio of healthcare and wellness-focused stocks. The fund pays an attractive 6.1% distribution yield that is well funded by its long-term 5-7% total returns. However, compared to peer funds, the GRX fund has much higher expenses, lower total returns, and higher portfolio volatility. I would personally seek healthcare exposure elsewhere.