A 5% yield is difficult to come by these days, even if income is your only objective. But the Gabelli Healthcare and Wellness Trust has a distribution yield above 5% and also pursues long-term growth.
But none of those options offer any potential for growing your investment while paying you dividends. So the fund is focused on the health-care and the consumer staples sectors, and it is not concentrated, holding 122 stocks as of Dec. 31. The 10 largest positions are listed below. More on Dividend Aristocrats: These 20 stocks may give you the best shot to cash in on fast-rising dividends
While 2018 was a “tough year” for the company, Jonas is betting on new CEO Keith Grossman’s track record. Grossman “has been with several medical device companies, has done several turnarounds and tends to sell the company after he turns it around,” Jonas said. Under Hantson’s leadership, Alexion “has done a couple of tuck-in acquisitions to rebuild the R&D pipeline,” generally paying “reasonable prices for drugs that look like they have a good shot at success,” Jonas said.
Performance Gabelli Healthcare and Wellness Trust is rated three stars by Morningstar. Jonas believes that Morningstar isn’t considering the fund’s performance “correctly” because it should use a different benchmark.
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