GBL - GBL STOCK NEWS

The GDL Fund (NYSE:GDL) has announced a cash distribution of $0.12 per share for common shareholders, payable on March 24, 2022, with a record date of March 17, 2022. The Board of Trustees will monitor distribution levels based on net asset value and market conditions. Distributions may include a return of capital, not subject to taxation, which will be detailed to shareholders in early 2023 via Form 1099-DIV. The GDL Fund, managed by Gabelli Funds, has total net assets of $179 million and aims for absolute returns while minimizing capital risk.

The Gabelli Healthcare & Wellness Trust (NYSE:GRX) announced a cash distribution of $0.15 per share, payable on March 24, 2022, to shareholders of record as of March 17, 2022. The Board of Trustees will review quarterly distributions based on income and capital availability, with adjustments potentially made in December to account for additional income or realized gains. Currently, the 2022 distribution is deemed a 100% return of capital, which is generally not taxable. The Fund seeks long-term capital growth and has $328 million in net assets.

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) has declared a cash distribution of $0.12 per share, payable on March 24, 2022, to shareholders of record as of March 17, 2022. The Fund aims for a minimum annual distribution of 8% based on its average net asset value. The Board will continue to assess the distribution level based on the Fund's performance and market conditions. Notably, approximately 78% of the distribution will come from net capital gains, with 22% considered a return of capital.

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) announced a cash distribution of $0.16 per share, payable on March 24, 2022, to shareholders on record by March 17, 2022. The Board of Trustees regularly reviews distribution amounts, which may vary each quarter. This year, approximately 6% of the distribution will come from net capital gains, with 94% classified as a return of capital. Shareholders will receive tax treatment details for 2022 distributions in early 2023 via Form 1099-DIV.

GAMCO Investors, Inc. (NYSE:GBL) has appointed Douglas R. Jamieson to its Board of Directors. With over 40 years at GAMCO, Jamieson has held key roles including Executive Vice President and Chief Operating Officer of GAMCO Asset Management and President and CEO of Associated Capital Group since its spinoff in 2015. GAMCO Investors is renowned for its research-driven equity investing and manages various investment strategies through subsidiaries, serving a diverse client base including institutions and individual investors.

The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) has announced the redemption of all outstanding 5.450% Series A Cumulative Preferred Shares at a price of $25.24600694 per share, effective February 28, 2022. This amount includes $25.00 as the Liquidation Preference and $0.24600694 for accumulated unpaid dividends. Post-redemption, dividends will cease, and all rights associated with these shares will end except for the claim to the Redemption Price. The shares are held in book-entry form through the Depository Trust Company.

GAMCO Investors (NYSE: GBL) anticipates reporting fourth quarter 2021 diluted earnings between $0.39 and $0.45 per share. This figure is adjusted for an $11.3 million charitable contribution impacting earnings by $0.32 per share. For the entire year, diluted earnings are expected between $2.71 and $2.77 per share, compared to $2.20 in 2020. As of December 31, 2021, assets under management reached $35 billion, up from $32.6 billion in the prior year.

The Gabelli Equity Trust (NYSE: GAB) announced the redemption of its 5.45% Series J Cumulative Preferred Stock, effective January 31, 2022. Investors will receive $25.132465 per share, which includes accumulated dividends. This stock will no longer be considered outstanding post-redemption. Additionally, the Fund is conducting a private placement for its new 4.25% Series M Cumulative Preferred Stock to finance this redemption. As of now, the Gabelli Equity Trust manages approximately $2.3 billion in net assets, focusing on long-term capital growth.

GAMCO Investors (NYSE: GBL) is set to launch the Gabelli Asset ETF (NYSE: GAST) on January 3, 2022. This team-managed fund aims for capital appreciation by investing in firms involved in automation, robotics, and related technologies. Notably, the first $25 million in assets will incur no fees. The investment team includes experienced professionals like Brett Kearney, Justin Bergner, and Hendi Susanto. The ETF will provide limited information to traders, which could impact pricing. As of September 30, 2021, GAMCO managed $33.5 billion in assets.