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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.
Gabelli Funds has released an educational video in The Closed-End Corner series focusing on Return of Capital (ROC) in relation to The GAMCO Natural Resources, Gold & Income Trust (NYSE: GNT). The video explains how ROC, often viewed negatively, can actually be beneficial for investors.
Senior Vice President David Schachter discusses how previous tax-loss carryforwards can enhance GNT's distribution through tax-free return of capital. The fund currently distributes $0.04 per month, and notably, 88% of GNT's 2023 distribution was tax-free for taxable accounts.
The Gabelli Dividend & Income Trust (NYSE: GDV) has announced a significant 27% increase in its annual distribution from $1.32 to $1.68 per share. The monthly distribution rate will increase to $0.14 from $0.11 per share. This decision by the Board of Trustees comes following the Fund's performance and its $1.4 billion in portfolio unrealized gains.
The enhanced monthly distributions will begin in the first quarter of 2025, with payments scheduled for January 24, February 21, and March 24, 2025. The Fund notes that its distribution policy may be modified by the Board of Trustees, and the distribution rate should not be considered as the dividend yield or total return on investment.
Gabelli Funds announces its conference on Section 852(b)(6) scheduled for December 5, 2024, at The Paley Center in New York City. The event will explore important aspects of fund industry dynamics, focusing on tax implications for mutual funds and ETFs investors. Key topics include heartbeat trades, ETF tax alpha, and fund conversion trends.
The conference features three main sessions: ETF conversions, tax alpha discussions, and Section 852(b)(6) implications, with speakers from Practus LLP, Villanova University, Fordham University of Law, FactSet, and Bloomberg News. The event offers both in-person and virtual attendance options via Zoom.
Gabelli Funds, a Diamond Sponsor at the IMPACT® Conference in San Francisco, will host an interactive session on November 20, 2024, featuring key portfolio managers discussing long-term wealth creation through equities. Christopher J. Marangi, Ian Lapey, and John T. Belton will share insights on the U.S. economy, post-election stock outlook, investment ideas, AI impact, and global financial institutions' resilience.
The session takes place from 11:30 a.m.-12:30 p.m. at the Moscone Center during the conference running from November 19-21. As of September 30, 2024, GAMCO Investors (OTCQX: GAMI) managed approximately $32.2 billion in assets through its subsidiaries.
Gabelli Healthcare & WellnessRx Trust (NYSE: GRX) has declared a quarterly cash distribution of $0.15 per share, payable on December 20, 2024, to shareholders of record on December 13, 2024. The distribution composition is approximately 5% from net investment income, 84% from net capital gains, and 11% return of capital. The Board of Trustees reviews potential distributions quarterly, considering the Fund's net asset value and market conditions. The distribution policy may be modified or terminated at any time, and distributions might be subject to various tax treatments including long-term capital gains and qualified dividend 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 $0.11 per share for January, February, and March 2025. The distributions will be paid on January 24, February 21, and March 24, 2025, respectively. Based on current accounting records, the 2024 distributions comprise approximately 14% from net investment income and 86% from net capital gains on a book basis.
The Gabelli Utility Trust (NYSE:GUT) Board of Trustees has approved the continuation of its fixed monthly cash distributions policy, declaring $0.05 per share for January, February, and March 2025. The distributions will be paid on respective dates in each month. The Board continues to evaluate strategic opportunities in the current market environment. 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 2024 distributions comprise approximately 4% from net investment income and 96% return of capital on a book basis.
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a $0.12 per share cash distribution payable on December 20, 2024, to shareholders of record on December 13, 2024. This fourth quarter distribution brings the total 2024 distributions to $0.48 per share, which is $0.18 higher than the 8% minimum annual distribution policy based on average NAV. The Fund's NAV has fluctuated between $3.63 and $3.86 over the past four quarters. The distribution may be treated as long-term capital gain or qualified dividend income, subject to applicable tax rates.
The Board of Trustees of Ellsworth Growth and Income Fund (ECF) has declared a $0.14 per share cash distribution payable on December 30, 2024. Shareholders of record as of November 22, 2024, can choose to receive the distribution in cash or beneficial shares. The Fund aims to pay either 5% of its trailing 12-month average month-end market price or meet minimum IRS distribution requirements. The distribution is taxable regardless of the payment method chosen, and shareholders must make their election by December 13, 2024. Those who don't make a choice will receive shares, with the amount determined on December 16, 2024, based on the lower of closing market price or net asset value.
Gabelli Funds and Columbia Business School are set to host their 6th Annual Healthcare Symposium at the Paley Center in New York City on November 15th, 2024. The half-day event will feature three major panel discussions focusing on surgical robotics, data interoperability, and atrial fibrillation treatments.
The symposium brings together healthcare executives and physicians to explore current and future industry trends. The agenda includes breakfast at 8:15am, followed by panel discussions featuring experts like Jeff Jonas, Gretchen Jackson, Michael Bouton, and Elaine Wan, among others. The event concludes at 12:20 with closing remarks.
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