GGN Stock Summary and Trading Ideas (Gamco Global Gold Natural Resources & Income Trust | AMEX:GGN)

The Fund’s primary investment objective is to provide a high level of current income. The Fund’s secondary investment objective is to seek capital appreciation consistent with the Fund’s strategy and its primary objective. The Fund will attempt to achieve its objectives, under normal market conditions, by investing 80% of its assets in equity securities of companies principally engaged in the gold and natural resources industries. As part of its investment strategy, the Fund intends to earn income through an option strategy of writing (selling) covered call options on equity securities in its portfolio. The Fund anticipates that it will invest at least 25% of its assets in the equity securities of companies principally engaged in the exploration, mining, fabrication, processing, distribution, or trading of gold, or the financing, managing and controlling, or operating of companies engaged in “gold related” activities (“Gold Companies”). In addition, the Fund anticipates that it will invest at least 25% of its assets in the equity securities of companies principally engaged in the exploration, production, or distribution of natural resources, such as gas and oil, paper, food and agriculture, forestry products, metals, and minerals as well as related transportation companies and equipment manufacturers (“Natural Resources Companies”). The Fund may invest in the securities of companies located anywhere in the world. The Fund may invest a high percentage of its assets in specific sectors of the market in order to achieve a potentially greater investment return. As a result, the Fund may be more susceptible to economic, political, and regulatory developments in a particular sector of the market, positive or negative, and may experience increased volatility to the Fund’s NAV and a magnified effect in its total return.

Gamco Global Gold Natural Resources & Income Trust trades on the AMEX stock market under the symbol GGN.

As of April 24, 2024, GGN stock price declined to $4.02 with 277,091 million shares trading.

GGN has a beta of 0.32, meaning it tends to be less sensitive to market movements. GGN has a correlation of 0.11 to the broad based SPY ETF.

GGN has a market cap of $619.72 million. This is considered a Small Cap stock.

In the last 3 years, GGN stock traded as high as $4.32 and as low as $3.06.

GGN stock has underperformed the market in the last year with a return of +18.9%, while SPY returned +24.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in GGN shares. However, GGN has outperformed the market in the last 3 month and 2 week periods, returning +9.6% and -1.2%, while SPY returned +4.6% and -2.7%, respectively. This indicates GGN has been having a stronger performance recently.

GGN support price is $4.00 and resistance is $4.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GGN stock will trade within this expected range on the day.