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GAMCO Investors, Inc. (NYSE:GBL) is a prominent investment advisory services provider for various types of investors. Established in 1977 by Mario J. Gabelli, the company is renowned for its research-driven equity investment approach and the proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy. With $39.7 billion assets under management (AUM) as of December 31, 2016, 95% of which is invested in equities, GAMCO operates through two registered investment advisers: GAMCO Asset Management Inc. (institutional and private wealth management) and Gabelli Funds, LLC (funds). G.Distributors, LLC serves as an underwriter and distributor for the company's open-end funds.
GAMCO Asset Management, an affiliate of GAMCO Investors (OTCQX: GAMI), has disclosed ownership of approximately 296,400 shares of Class A common stock in Burnham Holdings (OTCPK: BURCA). This represents approximately 8.93% of Burnham's Class A shares outstanding.
Due to Burnham not being an SEC Registrant, GAMCO's standard procedure of filing a Schedule 13D ownership disclosure form is not possible. This press release serves as an alternative method of ownership notification. GAMCO Investors manages assets through various subsidiaries, including private advisory accounts and mutual/closed-end funds, utilizing their Private Market Value with a Catalyst™ investment approach.
Gabelli Dividend & Income Trust (NYSE: GDV) has announced plans to spin off a new closed-end fund called Gabelli Preferred Securities Trust (GPS). The new fund will focus on preferred securities, with GDV contributing approximately $150 million in cash and/or securities. GPS shares will be distributed pro rata to GDV common shareholders and will seek listing on the NYSE.
The new fund is expected to utilize leverage, with the amount yet to be determined. GDV's distribution policy will remain unchanged, while GPS's distribution rate will be determined at spin-off. The transaction requires both shareholder and regulatory approvals, with specific details about cash/securities contribution, share distribution, and record dates to be announced later.
Gabelli Funds announces its 35th annual Pump, Valve & Water Systems Symposium, scheduled for February 27, 2025, at the Harvard Club in New York City. The event will explore critical industry themes including infrastructure spending, resource security, conservation, and mergers and acquisitions.
The symposium offers attendees unique opportunities for one-on-one sessions with management teams, providing deep insights into company strategies and growth prospects. The event emphasizes the important role of the pump, valve, and water systems industry in addressing global challenges, particularly in infrastructure development, resource management, and environmental sustainability.
The format includes company presentations, fireside chats, panel discussions, and one-on-one meetings, with some virtual attendance options available. The event is organized by Gabelli Funds, , a registered investment adviser and wholly owned subsidiary of GAMCO Investors (OTCQX: GAMI).
Ellsworth Growth and Income Fund (NYSE American: ECF) has announced a cash distribution of $0.13 per share, payable on March 24, 2025, to shareholders of record as of March 17, 2025. The Fund aims to distribute annually either 5% of its trailing 12-month average month-end market price or meet minimum IRS requirements for regulated investment companies.
The current 2025 distribution comprises approximately 13% from net investment income and 87% from net capital gains on a book basis. The Board of Trustees reviews potential distributions quarterly, considering the Fund's net asset value and market conditions. An adjusting distribution may be paid in December to cover additional income and realized capital gains exceeding quarterly distributions.
Distributions may be treated as long-term capital gain or qualified dividend income, subject to a maximum 20% federal tax rate for individuals. A 3.8% Medicare surcharge may apply to certain U.S. shareholders on their net investment income.
Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a cash distribution of $0.12 per share, payable on March 24, 2025, to shareholders of record on March 17, 2025. The Fund maintains a minimum annual distribution policy of 8% of average net asset value or sufficient amounts to meet IRS requirements for regulated investment companies.
The current 2025 distribution comprises approximately 17% from net investment income and 83% return of capital based on current accounting records. The Board of Directors reviews potential distributions quarterly, considering income, realized capital gains, and available capital. The distribution policy may be modified, and rates shouldn't be considered as dividend yield or total return indicators.
Distributions may be treated as long-term capital gain or qualified dividend income, subject to a maximum 20% federal tax rate for individuals. Some shareholders may also be subject to a 3.8% Medicare surcharge on net investment income.
Gabelli Dividend & Income Trust (NYSE:GDV) has announced the continuation of its fixed monthly cash distributions policy. The Board of Trustees declared distributions of $0.14 per share for April, May, and June 2025. This represents a 27% increase in annual distribution to $1.68 per share, effective from January 2025.
The distributions will be paid on April 23, May 22, and June 23, 2025, respectively. Based on current accounting records, the 2025 distributions comprise approximately 3% from net investment income, 4% from net capital gains, and 93% return of capital. The Board continues to evaluate strategic opportunities in the equity markets and monitors the Fund's distribution level considering market conditions and net asset value.
Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) has declared a quarterly cash distribution of $0.15 per share, payable on March 24, 2025, to shareholders of record on March 17, 2025. The current distribution breakdown consists of approximately 1% from net investment income, 4% from net capital gains, and 95% return of capital on a book basis.
The Fund's Board of Trustees reviews potential distributions quarterly, considering net asset value and market conditions. The distribution policy may be modified or terminated at any time. Distributions can be treated as long-term capital gain or qualified dividend income, subject to a maximum 20% federal tax rate for individuals in taxable accounts. U.S. shareholders meeting certain income thresholds will be required to pay an additional 3.8% Medicare surcharge on their net investment income.
The Gabelli Utility Trust (NYSE:GUT) has announced the continuation of its fixed monthly cash distribution policy, declaring distributions of $0.05 per share for April, May, and June 2025. The Fund's Board of Trustees reviews distribution amounts quarterly, considering income, realized capital gains, and market conditions.
The distributions are scheduled for payment on April 23, May 22, and June 23, 2025, to shareholders of record on April 15, May 15, and June 13, respectively. The Fund has maintained monthly distributions since October 1999. Currently, shares are trading at a premium to net asset value, which the Board believes may not be sustainable.
The 2025 distributions are expected to comprise approximately 1% from net investment income and 99% return of capital on a book basis. Shareholders should note that reinvestment of distributions occurs at a premium to net asset value under the current market price.
GAMCO Investors (OTCQX: GAMI) announced that Chairman and co-CEO Mario J. Gabelli will waive his Portfolio and Relationship compensation from March 1, 2025, to May 31, 2025, to provide resources for investment strategy development.
The company operates through two main subsidiaries: Gabelli Funds, , which manages 24 open-end funds, 14 closed-end funds, 5 actively managed ETFs, and a SICAV, and GAMCO Asset Management Inc., which handles approximately 1,400 institutional and private wealth separate accounts.
GAMCO offers diverse investment solutions including Value and Growth Equity, Convertibles, actively managed ETFs, sector-focused strategies in Gold and Utilities, Merger Arbitrage, Fixed Income, and 100% U.S. Treasury Money Market. The company continues to seek new acquisitions and RIA team integrations, offering finder's fees for successful opportunities.
GAMCO Investors (GAMI) reported strong Q4 2024 results with earnings of $0.70 per share, up from $0.66 in Q4 2023. Full-year 2024 earnings reached $2.65 per share compared to $2.38 in 2023. The company achieved a Q4 operating margin of 32.3% and 31.0% for the full year.
Assets Under Management (AUM) stood at $31.7 billion at quarter-end, with the company maintaining a strong financial position of $182.8 million in cash, cash equivalents, seed capital, and investments with no debt. Revenue increased to $59.2 million in Q4 2024 from $57.3 million in Q4 2023.
Notable shareholder returns include a 100% increase in regular quarterly dividend and the repurchase of 1.3 million shares (3% of outstanding shares) during Q4. The board also increased the buyback authorization to 1.5 million shares.
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