CEF investing is an entirely different animal. There is alot of
educational info on cefconnect.com. I have been involved with them
for awhile now so if you have any questions feel free to shoot them
my way.
GGN is not a direct proxy to the GDX. It is a close end
fund that has gold interests and assets. Long term
correlation between GGN and GDX is around 60% but that probably
does not include the dividend on $0.14 per month that GGN
pays. Why it was features was predominantly for the
dividend. I believe in the post below Matt mentioned how he
was NOT really impressed by the chart but then when factoring in
the dividend it might be worthwhile.
GGN
Posted by lrhoades on 18th of Jun 2012 at 11:28 am
I'm confused with GGN, I bought it the other day and if GDX is up why would GGN be down?
Any thoughts helpful, thanks
GGN
Posted by jaysz on 18th of Jun 2012 at 11:34 am
GGN is primarily an income vehicle. They write covered calls. It should not be used for capital appreciation. I've been following it for years.
http://www.gabelli.com/Gab_pdf/factsheets/-116facts.pdf
Thx for reply. It was
Posted by lrhoades on 18th of Jun 2012 at 11:40 am
Thx for reply. It was noted on the site as a potential buy, does it really never appreciate if gold stocks go up in value?
CEF investing is an entirely
Posted by smoothy on 18th of Jun 2012 at 11:53 am
CEF investing is an entirely different animal. There is alot of educational info on cefconnect.com. I have been involved with them for awhile now so if you have any questions feel free to shoot them my way.
Doug
Yes that is a good
Posted by tom on 18th of Jun 2012 at 11:59 am
Yes that is a good site that publishes the NAVs and NAV histories which can be important when analyzing CEF's (close-end-funds).
GGN is not a direct
Posted by tom on 18th of Jun 2012 at 11:48 am
GGN is not a direct proxy to the GDX. It is a close end fund that has gold interests and assets. Long term correlation between GGN and GDX is around 60% but that probably does not include the dividend on $0.14 per month that GGN pays. Why it was features was predominantly for the dividend. I believe in the post below Matt mentioned how he was NOT really impressed by the chart but then when factoring in the dividend it might be worthwhile.
http://breakpointtrades.com/blog/post/202319/