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What happened to Gabelli Value 25 (GABVX) in April 2021?
On Monday March 22, 2021 it was $16.46, and by Friday March 26, 2021 (same week) it was $14.92 for a loss of 9.4%. Vanguard Index 500 (VFIAX) was up 0.5% in the same week, and that's not even including a distribution that was paid. There were no GABVX distributions paid in that week.
If you own or track GABVX do you know what happened that week that caused such a sudden correction? I'm just curious. thanks!
Anyway, GABVX is a focused MC-blend, but has high exposure to SC; it also has exposure to M&A deals. So, SP500 isn't a good benchmark for it. As it has only 25 stocks, you will have to dig into those for the week of March 22-26, 2021 (you may have to check SEC/Edgar filings for its portfolio around then). But it looks like that week there was a selloff Mon-Wed that hit SC vary hard, and GABVX went down hard. But when things rebounded Th-FRI, GABVX kept falling - that can happen with concentrated positions.
and put in, for 2y or perhaps a bit less, GABVX plus such comparisons as you wish (VBR, VONV), you can get a picture of the strange spike and comedown (while still doing better than VONV). Until. The real dismay comes from its underperformance the last 10-11mos and especially since the summer.
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Anyway, GABVX is a focused MC-blend, but has high exposure to SC; it also has exposure to M&A deals. So, SP500 isn't a good benchmark for it. As it has only 25 stocks, you will have to dig into those for the week of March 22-26, 2021 (you may have to check SEC/Edgar filings for its portfolio around then). But it looks like that week there was a selloff Mon-Wed that hit SC vary hard, and GABVX went down hard. But when things rebounded Th-FRI, GABVX kept falling - that can happen with concentrated positions.
https://stockcharts.com/h-perf/ui
and put in, for 2y or perhaps a bit less, GABVX plus such comparisons as you wish (VBR, VONV), you can get a picture of the strange spike and comedown (while still doing better than VONV). Until. The real dismay comes from its underperformance the last 10-11mos and especially since the summer.