GGT - Equity CEFs: BST And GGT The Most Obvious Swap I've Ever Seen

• Do yourselves a favor and swap out of the Gabelli Multimedia fund (GGT) at a 23%-plus premium and into the BlackRock Science & Technology fund (BST) at a discount.
• What do they have in common?  Besides both being growth & technology CEFs, although with different growth stock portfolios, both are also going through Rights Offerings (RO) currently.
• The big difference is that BST's RO is about to conclude and GGT's is about to get going.  And if history is any guide, you should be selling GGT today.
• That's because GGT goes ex-Rights on Monday, July 12, and it's hardly worth holding onto Rights that are just going to be priced based on a  $9.50 subscription price, which is already at a premium to NAV.
• Certainly anything can change before GGT's RO concludes in late August but BST also rose to a high premium when its RO was announced on June 9th and now it's at a -3% discount.

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