Reader JDubs has just pointed out the trading halt and subsequent confirmation that numerous Gabelli CEF preferreds are being redeemed.
This is hopefully not a big surprise to readers as we covered this a month ago—here. Everyone had ample time to review their holdings and unload them.
Here’s is the scoop–
Gabelli Dividend and Income 6% (GDV-D) will be redeemed on 12/26/2019.
Gabelli Equity Trust 5.875% (GAB-D) will be redeemed on 12/26/2019.
Gabelli Multimedia Fund 6% (GGT-B) will be redeemed on 12/26/2019.
Since the announcement came at the end of the day there will be some blood letting in these issues tomorrow morning–assuming they trade. If they do not trade holders will have to wait 5 weeks to be spanked.