Tuesday, June 12, 2012

GGN ex dividend date is tomorrow Wed June 13th

GGN is a closed end gold fund and it pays a $0.14 cent monthly dividend , which is close to 11%.  The management sells covered calls against their long positions and pays this in a monthly dividend.  Obviously GGN took a hit in May with the weakness in gold and gold stocks and has finally reached a support area.  

However I apologize, yesterday I mistakenly stated that you could buy GGN today (June 13th) and still receive the dividend, that is incorrect, the ex dividend date is today.  However this is not a big deal because remember GGN pays monthly and the next ex dividend date is July 14th, which means you buy it later this month or next month and receive the next dividend. 

This might be best because I think the chart still needs some work i.e. consolidation, via the way the chart looks I would not be surprised to see GGN still near the current prices or even slightly lower a month from now.  Therefore let's revisit GGN at a later date

Again I apologize for the confusion yesterday :)

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