Gabelli Global Gold, Natural Resources & Income Trust (GGN) — This non-diversified, closed-end management investment company, which invests in the equity securities of companies principally engaged in the gold and natural resources industries, has provided a steady dividend return, as well as a way to participate in major mining stocks.
GGN was a steady performer last year, but 2008 has been a bummer with the stock falling with the price of gold to a low of $8 from $30.
Now, however, GGN and some of its counterparts are showing signs of life by forming double-bottoms with higher volume from buyers. Traders may want to jump on GGN for a further recovery to around $13, and longer-term gold buyers will find its high yield of more than 15% to be attractive.
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