Gabelli Gold a Solid Pick
by Sam Collins 02/17/09
Gabelli Global Gold, Natural Resources & 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.
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It has provided a steady dividend return, as well as a way to participate in major metals mining stocks.
The last time that we chose GGN as the Trade of the Day was on Nov. 24, when GGN was at $11.50. Since then, the double-bottom at $8 has been confirmed and the stock is in an uptrend with the next resistance at the 200-day moving average at around $20.
The stated dividend on GGN is $1.68 for a yield of more than 10%.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
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