GBL - GBL STOCK NEWS

Gabelli Asset ETF (NYSE: GAST) has been renamed Gabelli Automation ETF, emphasizing its focus on the automation ecosystem. The fund aims for capital appreciation by investing in firms across various sectors that support automation technologies. Notably, the fund will waive fees for the first $25 million of assets under management. The investment team, led by experienced professionals including Brett Kearney, CFA, is committed to navigate the challenges posed by tight labor markets and productivity demands globally.

The Board of Trustees of The Gabelli Utilities Fund (ticker: GAUCX) has reaffirmed an annual distribution rate of $0.88 per share for its shareholders. This distribution rate will be allocated as $0.07 per share for the first two months of each quarter and $0.08 for the final month. Additionally, Class C shares have been renamed to Class C1, available for existing holders until August 31, 2022. A new Class C share (ticker: GUXPX) will be offered starting September 1, 2022, with a similar distribution rate and approximately 11% cash distribution of NAV at inception.

The Gabelli Equity Trust Inc. (NYSE:GAB) declared a cash distribution of $0.15 per share, reaffirming its 10% distribution policy. Payments will be made on June 23, 2022 to shareholders on record by June 15, 2022. The fund aims to maintain a minimum annual distribution of 10% based on the average net asset value. Distributions may include long-term capital gains, qualified dividends, and return of capital. Investors are advised the distribution rate does not reflect total return, and all tax implications will be communicated in early 2023.

The Gabelli Global Utility & Income Trust (GLU) has declared monthly cash distributions of $0.10 per share for July, August, and September 2022. This follows the Fund's policy of a minimum annual distribution of 6% of the $20 initial public offering price. The Board of Trustees will review the distribution levels quarterly, and an adjusting distribution may be made in December to meet Internal Revenue Code requirements. Approximately 74% of the 2022 distributions will be considered a return of capital.

The Gabelli Utility Trust (NYSE:GUT) Board of Trustees has confirmed its policy of fixed monthly cash distributions at $0.05 per share for July, August, and September 2022. The record and payable dates for these distributions are set, with July's on the 15th and 22nd, August's on the 17th and 24th, and September's on the 16th and 23rd. The Fund, which has maintained monthly distributions since October 1999, will monitor its distribution levels relative to net asset value. Currently, shares trade at a premium to net asset value, which may not be sustainable.

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) announced a cash distribution of $0.16 per share, payable on June 23, 2022, to shareholders of record on June 15, 2022. The Board of Trustees will regularly review the distribution amount, subject to market conditions and fund performance. The Fund, with $162 million in total net assets, aims for long-term capital growth, investing primarily in small to medium-sized equity securities. Future distributions may include capital gains and could impact shareholders' tax situations.

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) declared a cash distribution of $0.15 per share for common shareholders, payable on June 23, 2022, to those on record as of June 15, 2022. The Board of Trustees will determine quarterly distributions, which may vary. The Fund emphasizes that distributions may include long-term capital gains and returns of capital, potentially affecting tax treatment for shareholders. The Trust has $303 million in total net assets and focuses on long-term capital growth. Shareholders will receive notifications about tax treatment in early 2023.