GAMCO Global Gold Natural Resources & Income Trust [GGN] is -14.32% lower this YTD. Is it still time to buy?

GAMCO Global Gold Natural Resources & Income Trust [NYSE: GGN] jumped around 0.05 points on Wednesday, while shares priced at $3.77 at the close of the session, up 1.34%. The company report on May 15, 2020 that GAMCO Global Gold, Natural Resources & Income Trust Announces Expected Total Distributions of $0.48 Per Share For 2020.

Declares Monthly Distributions of $0.03 Per Share.

The Board of Trustees of GAMCO Global Gold, Natural Resources & Income Trust (NYSE American: GGN) (the “Fund”) approved the continuation of its policy of paying monthly cash distributions. The Board of Trustees has declared cash distributions of $0.03 per share for each of July, August, and September 2020. This equates to an expected total annual 2020 distribution of $0.48 per common share. Based on current dynamics, the Fund may make distributions in excess of the Fund’s earnings. It is expected that distributions to common shareholders in 2020 will receive mostly a return of capital for tax purposes.

Compared to the average trading volume of 1.30M shares, GGN reached a trading volume of 1819810 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about GAMCO Global Gold Natural Resources & Income Trust [GGN]?

The Average True Range (ATR) for GAMCO Global Gold Natural Resources & Income Trust is set at 0.08, with the Price to Sales ratio for GGN stock in the period of the last 12 months amounting to 54.95. The Price to Book ratio for the last quarter was 0.87.

How has GGN stock performed recently?

GAMCO Global Gold Natural Resources & Income Trust [GGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.27. With this latest performance, GGN shares gained by 7.71% in over the last four-week period, additionally sinking by -11.08% over the last 6 months – not to mention a drop of -16.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GGN stock in for the last two-week period is set at 64.90, with the RSI for the last a single of trading hit 68.14, and the three-weeks RSI is set at 62.89 for GAMCO Global Gold Natural Resources & Income Trust [GGN]. The present Moving Average for the last 50 days of trading for this stock 3.48, while it was recorded at 3.69 for the last single week of trading, and 3.74 for the last 200 days.

GAMCO Global Gold Natural Resources & Income Trust [GGN]: Deeper insight into the fundamentals

Insider trade positions for GAMCO Global Gold Natural Resources & Income Trust [GGN]

65 institutional holders increased their position in GAMCO Global Gold Natural Resources & Income Trust [NYSE:GGN] by around 6,088,147 shares. Additionally, 38 investors decreased positions by around 1,267,767 shares, while 23 investors held positions by with 7,518,153 shares. The mentioned changes placed institutional holdings at 14,874,067 shares, according to the latest SEC report filing. GGN stock had 17 new institutional investments in for a total of 2,572,538 shares, while 17 institutional investors sold positions of 293,727 shares during the same period.

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