Gabelli Global Gold in an Uptrend
by Sam Collins 03/05/09
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. It has provided a steady dividend return as well as a way to participate in major metals mining stocks.
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The last time that we chose GGN as the Trade of the Day was on Nov. 24, when the stock was at $11.50.
Since then, the double-bottom at $8 has been confirmed and GGN is in an uptrend with a buy signal from the stochastic. The next resistance is at the 200-day moving average at just below $20. The stated dividend on GGN is $1.68 for a yield of more than13%.
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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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