The .12c monthly dividend was announced today.. continuing to through September. 1.44/10.63=.1354 or 13.54%. The price declined today .13c, the net asset value of the fund dropped by .07. You can see the NAV by using the ticker XGGNX
It is usually updated far ahead of the others.. Around 5:45PM EST versus 6PM and beyond (for other the NAVs of other CEFs). This is now trading at a discount. Which is fairly rare. Since this fund sells options, the high IV of the underlying assets brings forth generous option income, which also act as somewhat of a shield against price declines.. or rather a cushion.. They have redeemed all outstanding preferred issues, thereby eliminating any unnecessary and somewhat costly leverage.
I'd say the fund traded down below NAV because of Mario Gabelli himself posting an insider sale.. That wasn't nice to see. Perhaps some thought it as foreshadowing a distribution cut. There has been no distribution cut.
The divi is locked in up to September '13. $0.12 monthly is not bad. The pps is all based on the price of gold going down; gold will stabilize in the next couple of days, IMO this is a buying time, I bought another 1000 this morning
i want you to go to fidelity website. type in ggn, look for the Portfolio Composition tab for ggn, then i look at GGN's top stock holdings then i want you to look at how they are doing today. hope this helps good luck.
was that a lose of $363 million? Last Quarter? Did the CEO sell b4 end of Q report came out?
So I guess GOLD IS DOWN BECAUSE THE USD IS UP? Well what about all the debt and Obama's
throwing paper money all over. So how is the Black Gold doing? APC........lost my connection.