Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
29 March 2005Website:
http://www.gabelli.comNext earnings report:
N/ALast dividends:
14 November 2024Next dividends:
17 March 2025Price
after hours | Sat, 23 Nov 2024 00:48:46 GMTAnalysts recommendations
Institutional Ownership
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GGN Latest News
GAMCO Global Gold, Natural Resources & Income Trust offers growth potential with a portfolio focused on energy and mining stocks, benefiting from rising gold and oil prices. The fund's quarterly report shows a strong position in energy (33.5%) and mining/gold (55%), despite minor losses in key holdings like Barrick Gold and Newmont Corp. Oil prices are expected to rise due to falling global inventories and OPEC+ production cuts, while gold prices may surge to $2,700-$3,000 driven by lower interest rates.
GAMCO prices have retraced modestly, offering investors a slightly better entry price. Gold remains in bullish markets, likely to head higher. Crude oil prices are likely to head higher from limited supply and high demand.
The GAMCO Global Gold, Natural Resources & Income Trust focuses on investing in energy and natural resources, utilizing a short call option strategy to generate dividend income. Recently, the fund's prices have broken out of a prolonged consolidation phase and are anticipated to keep increasing. Prior to investing, it is advisable for investors to thoroughly assess the fund's fundamentals, charts, and options.
GGN: Prevailing Tailwinds Await The CEF
GAMCO Global Gold's model places it in a unique position for future growth. The growth will likely be moderated by its practice of heavily selling covered calls on its investments. In the meantime, investors receive a nice cash return monthly of $0.03.
GAMCO Global Gold, Natural Resources & Income Trust uses a covered call strategy with high turnover and a cash component of over 17%. The GGN closed-end fund had a market-beating performance in the past year, generating a trailing-12-month yield of 9.63% and a total return of almost 17.5%. GGN has increased its allocation to gold mining and basic metal stocks while reducing its allocation in energy stocks, indicating a positive market assessment.
GGN: Compelling Dividend Yield But No Growth Despite Bullish Gold
What type of business is GAMCO Global Gold Natural Resources & Income Trust?
GAMCO Global Gold, Natural Resources & Income Trust is a closed ended equity mutual fund launched by GAMCO Investors, Inc. The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies principally engaged in the gold and natural resources industries including companies principally engaged in the exploration, mining, fabrication, processing, distribution, or trading of gold, or the financing, managing and controlling, or operating of companies engaged in gold related activities. It also invests in equity securities of companies principally engaged in the exploration, production, or distribution of natural resources, such as gas and oil, paper, food and agriculture, forestry products, metals, and minerals as well as related transportation companies and equipment manufacturers. The fund makes its investments using call options. It benchmarks the performance of its portfolio against the CBOE S&P 500 Buy/Write Index, Philadelphia Gold & Silver Index, Energy Select Sector Index, and Barclays Government/Credit Bond Index. The fund was formerly known as GAMCO Global Gold, Natural Resources & Income Trust by Gabelli. GAMCO Global Gold, Natural Resources & Income Trust was formed on January 4, 2005 and is domiciled in United States.
What sector is GAMCO Global Gold Natural Resources & Income Trust in?
GAMCO Global Gold Natural Resources & Income Trust is in the Financial Services sector
What industry is GAMCO Global Gold Natural Resources & Income Trust in?
GAMCO Global Gold Natural Resources & Income Trust is in the Asset Management industry
What country is GAMCO Global Gold Natural Resources & Income Trust from?
GAMCO Global Gold Natural Resources & Income Trust is headquartered in United States
When did GAMCO Global Gold Natural Resources & Income Trust go public?
GAMCO Global Gold Natural Resources & Income Trust initial public offering (IPO) was on 29 March 2005
What is GAMCO Global Gold Natural Resources & Income Trust website?
https://www.gabelli.com/Template/fundinfo.cfm?tid=NTczYjU=&bid=OWZjZg==&mid=M2E1YQ==&num=MTczMDY=&kid=MTIzMTY=&fid=NmZiMGU=&rid=611-=edoc_dnuf
Is GAMCO Global Gold Natural Resources & Income Trust in the S&P 500?
No, GAMCO Global Gold Natural Resources & Income Trust is not included in the S&P 500 index
Is GAMCO Global Gold Natural Resources & Income Trust in the NASDAQ 100?
No, GAMCO Global Gold Natural Resources & Income Trust is not included in the NASDAQ 100 index
Is GAMCO Global Gold Natural Resources & Income Trust in the Dow Jones?
No, GAMCO Global Gold Natural Resources & Income Trust is not included in the Dow Jones index
When was GAMCO Global Gold Natural Resources & Income Trust the previous earnings report?
No data
When does GAMCO Global Gold Natural Resources & Income Trust earnings report?
Next earnings report date is not announced yet