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Security Profile
- Security Type
- Closed-End Fund
- CUSIP
- 36249W104
- Market Cap
- Micro Cap · $85 Million
- IPO
- 6/23/2014
Fund Description: The Gabelli Global Small and Mid Cap Value Trust is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Gabelli Global Small and Mid Cap Value Trust seeks long-term capital growth. FUND STRATEGY: Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund currently defines small cap companies as those with a market capitalization generally less than $3 billion at the time of investment and mid cap companies as those with a market capitalization between $3 billion and $12 billion at the time of investment. At least 40% of its total assets will be invested in the equity securities of companies located outside the United States and in at least three countries. FUND MANAGEMENT: Gabelli Funds, LLC serves as investment adviser to the Fund.
Notes: June 2, 2014 --The spin-off of The Gabelli Global Small and Mid Cap Value Trust (Global Trust), a newly organized, diversified, closed-end management investment company, was approved by shareholders of the Gabelli Dividend & Income Trust (NYSE:GDV) (Dividend & Income Trust) at a Special Meeting on April 15, 2014. The Dividend & Income Trust announced today that the distribution of the Global Trust common shares to Dividend & Income Trust common shareholders will be at a ratio of one common share of the Global Trust for every ten common shares owned of Dividend & Income Trust. The Dividend & Income Trust will contribute approximately $100 million of its assets to the Global Trust. The Global Trust’s initial net asset value is anticipated to be $12.00 per share. Dividend & Income Trust common shareholders with fewer than ten common shares will not receive common shares of the Global Trust in the distribution but will be entitled to his or her pro rata share of the net proceeds from sales of fractional share interests. The distribution will be made on June 23, 2014 to Dividend & Income Trust common shareholders of record as of the official close of business on June 16, 2014. Shares of the Global Trust are expected to trade on the New York Stock Exchange on June 24, 2014 under the symbol GGZ.
Company Contact
- Headquarters
- One Corporate Center, Rye, NY 10580
- Phone
- 914-921-5100 · Toll-Free 800-422-3554
- Investor Relations
- 800-422-3554 · closedend@gabelli.com