GAMCO Global Gold Natural Resources & Income Trust offers a compelling yield and trades at a significant discount to NAV. GGN.PR.B preferred shares, rated A2 by Moody's, yield over 7% and are protected by a robust asset coverage ratio of 1164%. Interest rate risk is the primary concern; credit risk is minimal due to low leverage (~8%) and 1940 Act protections.
Today we're going to look at a closed-end fund (CEF) that seemingly offers everything:
GAMCO Global Gold, Natural Resources & Income Trust (NYSE:GGN) pays $0.03 per share monthly, which annualizes to $0.36 per share, yielding roughly 6.6% at current prices.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| DI David Izzi Brown, LISLE/CUMMINGS Inc. | 22,130 | $84,084.54 | $115,629.25 | $31,544.71 | 37.52% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 122,454 | $592,680.01 | $639,209.88 | $46,529.87 | 7.85% |
| BS Barrett Schultz Ashton Thomas Securities LLC | 125,705 | $518,575.76 | $661,836.82 | $143,261.06 | 27.63% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 2,200 | $11,704 | $11,484 | -$220 | -1.88% |
| RC Robert Chess L.M. Kohn & Company | 25,904 | $102,251.35 | $134,700.8 | $32,449.45 | 31.73% |