This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Gabelli Healthcare & WellnessRx Trust Issues $30 Million Of 5.76% Series A Cumulative Preferred Shares

The Gabelli Healthcare & Wellness Rx Trust (NYSE:GRX) is pleased to announce the completion of an offering of 5.76% Series A Cumulative Preferred Shares valued at $30 million. The proceeds raised will be used for investment purposes.

The 5.76% Series A Cumulative Preferred Shares are rated “AAA” by Standard & Poor’s Ratings Services. The 5.76% Series A Cumulative Preferred Shares are perpetual, non-callable for five years, and were issued at $25 per share. Distributions will be paid quarterly beginning on September 27, 2010. The 5.76% Series A Cumulative Preferred Shares began trading on the New York Stock Exchange under the symbol “GRX Pr A” today, August 20, 2010.

Wells Fargo Securities, LLC and Gabelli & Company, Inc. served as underwriters for the offering, which closed today, August 20, 2010.

The Gabelli Healthcare & Wellness Rx Trust is a non-diversified, closed-end management investment company with $93 million in total net assets, after giving effect to the completion of the offering, whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
GRX $11.19 0.00%
GBL $76.17 0.00%
AAPL $128.95 0.00%
FB $78.99 0.00%
GOOG $537.90 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs