by Sam Collins 08/20/08
Gabelli Global Gold, Natural Resources and Income Trust (GGN) -- This non-diversified, closed-end management investment company invests in the equity securities of companies principally engaged in the gold and natural resources industries.
It has provided a steady dividend return, as well as a way to participate in major mining stocks.
GGN was a steady performer in 2007 except for one brief drop to the low $20s, which turned out to be a good buying opportunity. Recent declines in gold and other commodities have taken GGN back to its major bullish support line.
In the past several years, whenever the stock has retreated back to that line, it has provided for an excellent buying opportunity. This more conservative way to participate in gold has a dividend yield of just over 8%.
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The opening looks to be higher but today is options expiration day, and anything could happen.
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Traders and longer-term investors should sell any new positions at the first opportunity and short ETFs on a temporary recovery in the market.
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