Two Rights Offerings from Gabelli

Last week there were two rights offering that went “ex-rights”. :

- Gabelli Health Care &Wellness (ticker: GRX): Three rights will enable you to buy one share at $6.50 which is considerably below the last closing price of 7.44.

- GDL Fund Preferred B shares: The owners of the existing A preferred shares will receive rights to purchase the new B shares at $50.

I am participating in both of these rights offerings.

I recently published some more articles in Seeking Alpha:

1) Article on the EXD closed-end fund which uses an interesting multi-strategy approach. I think EXD could be a good buy if the VIX ever goes over 30 again.

http://seekingalpha.com/article/254003-a-muni-bond-cef-with-a-unique-multi-strategy-approach

2) article on DDF, a conservative income play available at a decent discount to NAV:

 http://seekingalpha.com/article/255803-delaware-s-dividend-and-income-fund-a-balanced-closed-end-fund-available-at-a-discount

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One response to “Two Rights Offerings from Gabelli

  1. The Fund currently anticipates that it will issue preferred shares following the completion of this offering of common shares, in order to seek incremental return for the Fund’s common shareholders. The use of preferred shares to leverage the common shares may involve greater risk to common shareholders.

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