Gabelli Healthcare & WellnessRx Trust
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Company profile

The Gabelli Healthcare & WellnessRx Trust is a diversified, closed-end management investment company. The Fund's investment objective is long term growth of capital. It will invest at least 80% of its assets in equity securities and income producing securities of domestic and foreign companies in the healthcare and wellness industries. The Fund invests in various geographic regions, including North America, Europe, Japan, Latin America and Asia/Pacific. The Fund may invest, from time to time, in shares of other investment companies. It invests in various sectors, including food; healthcare providers and services; pharmaceuticals; healthcare equipment and supplies; beverages; the United States Government Obligations; biotechnology; household and personal products; electronics; specialty chemicals; food and staples retailing; hotels and gaming, and exchange traded funds. Gabelli Funds, LLC serves as the investment advisor of the Fund.

Closing Price
$10.47
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
--
Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
27,326
0

Bank of America shares edge lower as first-quarter revenue falls short

7:02 am ET April 16, 2019 (MarketWatch)
Print

Bank of America Corp. (BAC) said Tuesday it had net income of $7.3 billion, or 70 cents a share, in the first quarter, up from $6.9 billion, or 62 cents a share, in the year-earlier period. Revenue edged down to $23.0 billion from $23.1 billion. The FactSet consensus was for EPS of 66 cents and revenue of $23.2 billion. Net interest income rose 10% to $$629 million, driven by higher interest rates and growth in deposits and loans. The company's loan book grew 5% to $292 billion, while its deposit base rose 3% to $697 billion. Loan loss provisions rose by $179 million to $1.0 billion. The company's trading reveneu fell 17% to $3.5 billion. FICC revenue fell 8% to $2.4 billion and equity trading fell 22% to $1.2 billion. "It was a challenging capital markets environment but our team and platform are optimized to serve clients and generate stable revenues across a range of market conditions over time," Chief Executive Brian Moynihan said in a statement. "We reduced expenses by four percent from the first quarter of 2018, contributing to the seventeenth consecutive quarter of positive operating leverage." The consumer banking division had net income of $3.2 billion, up 25% from a year ago. The global wealth and investment banking division had net income of $1.0 billion, up 14%. The global markets division had net income of $1.0 billion, down 26%, hurt by lower investment banking fees and falling trading revenue. Shares were down 0.3% in premarket trade and have fallen 0.3% in the last 12 months through Monday, while the S&P 500 has gained 8.5%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 16, 2019 07:02 ET (11:02 GMT)

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