GAMCO Global Gold, Natural Resources & Income Trust (NYSEAMERICAN:GGN) Sees Significant Drop in Short Interest

GAMCO Global Gold, Natural Resources & Income Trust (NYSEAMERICAN:GGN) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 55,455 shares, a decline of 53.3% from the August 31st total of 118,643 shares. Based on an average daily volume of 468,712 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in GAMCO Global Gold, Natural Resources & Income Trust by 42.0% during the first quarter. Janney Montgomery Scott LLC now owns 1,305,574 shares of the investment management company’s stock valued at $6,946,000 after acquiring an additional 386,270 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in GAMCO Global Gold, Natural Resources & Income Trust by 132.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 339,118 shares of the investment management company’s stock valued at $1,641,000 after purchasing an additional 192,943 shares during the period. Bank of America Corp DE boosted its holdings in GAMCO Global Gold, Natural Resources & Income Trust by 8.5% in the 1st quarter. Bank of America Corp DE now owns 1,292,854 shares of the investment management company’s stock valued at $6,878,000 after purchasing an additional 101,590 shares during the period. Total Wealth Planning & Management Inc. purchased a new position in shares of GAMCO Global Gold, Natural Resources & Income Trust during the 4th quarter valued at $512,000. Finally, WCG Wealth Advisors LLC purchased a new position in shares of GAMCO Global Gold, Natural Resources & Income Trust during the 4th quarter valued at $413,000.

GAMCO Global Gold, Natural Resources & Income Trust Stock Performance

Shares of NYSEAMERICAN:GGN remained flat at $5.29 during midday trading on Tuesday. 552,316 shares of the company were exchanged, compared to its average volume of 595,395. The stock has a 50-day simple moving average of $5.37 and a 200 day simple moving average of $5.22. GAMCO Global Gold, Natural Resources & Income Trust has a 52 week low of $4.63 and a 52 week high of $5.88.

GAMCO Global Gold, Natural Resources & Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 11th will be given a $0.0350 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.42 annualized dividend and a yield of 7.9%.

About GAMCO Global Gold, Natural Resources & Income Trust

GAMCO Global Gold, Natural Resources & Income Trust is a diversified, closed-end investment fund listed on the NYSE American under the symbol GGN. The fund seeks to provide current income and capital appreciation by investing primarily in companies involved in gold, other precious metals and natural resources.

The fund invests in equity securities of businesses across the global natural resources sector, including companies engaged in mining, metals, energy and related activities. It also uses an options strategy, including writing covered call options on some of its portfolio holdings, to pursue income and manage portfolio exposure.

GGN is advised by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc The fund has a global investment mandate and its portfolio may include companies operating in the United States and international markets.