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/

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