Gabelli Global Gold, Natural Resources & Income Trust (GGN) — This non-diversified, closed-end management fund invests in the equity securities of companies principally engaged in the gold and natural resources industries.
GGN has provided a steady dividend return, as well as a way to participate in metal mining stocks.
I have chosen GGN as the Trade of the Day multiple times in the past year and a half. In addition to outstanding appreciation, we’ve collected more than 14% in dividends. On Jan. 27, I recommended GGN again at $15, noting its high dividend yield.
GGN recently held on its support line and 200-day moving average, executing two of our internal Collins-Bollinger Reversal (CBR) buy signals, and broke through its 50-day moving average.
The short-term target is $19, but longer term it could run to the mid $20s. The current dividend yield is 10%.
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