Clarymore CEF GS Connect ETN (GCEC) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Clarymore CEF GS Connect ETN (GCEC) trades at $0.2512. Clarymore CEF GS Connect ETN (GCEC) was an Exchange Traded Note that tracked an index of US-listed closed-end funds. The ETN closed on August 31, 2020. Sector: Financial services.
Price as of Aug 21, 2026 · Last analyzed: Mar 17, 2026Analyst Coverage for GCEC: GCEC does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates GCEC against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
GCEC: 2/3 scored disciplines lean bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →Clarymore CEF GS Connect ETN (GCEC) Financial Services Profile
Clarymore CEF GS Connect ETN (GCEC) was a closed Exchange Traded Note that sought to provide exposure to a high-yield portfolio of US-listed closed-end funds trading at attractive discounts. The ETN, issued by Goldman Sachs, ceased trading on August 31, 2020, due to weak investor interest and high fees.
What Is the Investment Thesis for GCEC?
The Clarymore CEF GS Connect ETN (GCEC) is no longer trading, having closed on August 31, 2020. The investment thesis surrounding GCEC centered on providing investors with high-yield exposure to closed-end funds (CEFs) trading at a discount. The ETN's value proposition hinged on the potential for capital appreciation as the discounts to NAV narrowed, coupled with the income generated from the underlying CEFs. However, the ETN faced challenges, including the use of leverage by underlying CEFs, which increased risk, and a lack of transparency from the issuer, Goldman Sachs. Ultimately, weak investor interest and high fees contributed to the ETN's closure.
Based on FMP financials and quantitative analysis
GCEC Key Highlights
The ETN closed on August 31, 2020, meaning it is no longer trading or issuing new notes.
- GCEC tracked an index of US-listed closed-end funds (CEFs) aiming for exposure to high-yield portfolios.
- The underlying CEFs often used leverage, increasing the risk profile for GCEC investors.
- The ETN aimed to invest in CEFs trading at attractive discounts to their net asset value (NAV).
- GCEC made quarterly distributions, consistent with its role as an income source.
Who Are GCEC's Competitors?
GCEC is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ABALX American Funds American Balanced Fund Class A | $41.00 | +0.37% | $292B | 72 |
| BX Blackstone Inc. | $141.41 | -2.54% | $171B | 81 |
| AMFCX American Funds American Mutual Fund | $63.80 | -0.72% | $77.4B | 71 |
| RNNEX American Funds The New Economy Fund Class R-2E | $80.46 | -0.29% | $52.9B | 91 |
| AMP Ameriprise Financial, Inc. | $554.06 | -1.02% | $49.8B | 70 |
| IDDTF AB Industrivärden (publ) | $54.65 | -0.36% | $23.6B | 70 |
| TPG TPG Inc. | $51.57 | -3.03% | $19.8B | 67 |
| ARCC Ares Capital Corporation | $19.78 | -0.10% | $14.2B | 79 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are GCEC's Key Strengths?
N/A: The ETN has closed and is no longer trading.
What Are GCEC's Weaknesses?
N/A: The ETN has closed and is no longer trading.
What Are the Key Risks for GCEC?
Financial-distress signal — its Altman Z-Score of 0.35 sits in the distress zone (elevated bankruptcy risk).
- Insider selling — insiders were net sellers of roughly $3.6M recently.
- The ETN has closed and is no longer trading, resulting in a loss of investment.
- Limited information available due to OTC Other tier.
- Low liquidity and high volatility in OTC markets.
- Shell Risk Detected.
What Are the Growth Opportunities for GCEC?
- N/A: The ETN has closed and is no longer trading.
- N/A: The ETN has closed and is no longer trading.
- N/A: The ETN has closed and is no longer trading.
- N/A: The ETN has closed and is no longer trading.
- N/A: The ETN has closed and is no longer trading.
What Opportunities Does GCEC Have?
- N/A: The ETN has closed and is no longer trading.
What Threats Does GCEC Face?
- N/A: The ETN has closed and is no longer trading.
What Are GCEC's Competitive Advantages?
- N/A: The ETN has closed and is no longer trading.
What Does GCEC Do?
Clarymore CEF GS Connect ETN (GCEC) was an Exchange Traded Note (ETN) designed to track the performance of an index composed of US-listed closed-end funds (CEFs). The ETN aimed to provide investors with exposure to a diversified portfolio of CEFs characterized by large asset bases, high liquidity, and attractive discounts to their net asset value (NAV). The ETN closed and the last day of trading was August 31, 2020. While the index itself was not leveraged, many of the underlying CEFs within the portfolio employed leverage, potentially amplifying both gains and losses for investors. The ETN was issued by Goldman Sachs. Investor interest in the ETN was weak, contributing to doubts about its long-term viability. The ETN made quarterly distributions, aligning with its intended role as an income-generating investment. The ETN ceased trading on August 31, 2020.
What Products and Services Does GCEC Offer?
- GCEC tracked an index of US-listed closed-end funds.
- The ETN aimed to provide exposure to high-yield portfolios.
- It targeted CEFs with large asset bases and high liquidity.
- GCEC sought CEFs trading at attractive discounts to NAV.
- The ETN made quarterly distributions to investors.
- GCEC's objective was to provide income and potential capital appreciation.
How Does GCEC Make Money?
- GCEC generated revenue through fees charged to investors for tracking the CEF index.
- The ETN's profitability depended on its ability to attract and retain assets under management (AUM).
- Distributions were paid to investors from the income generated by the underlying CEFs.
What Industry Does GCEC Operate In?
The asset management industry is characterized by a diverse range of investment vehicles, including exchange-traded funds (ETFs), closed-end funds (CEFs), and exchange-traded notes (ETNs). GCEC operated within this landscape by offering exposure to a portfolio of CEFs. The industry is influenced by factors such as interest rates, market volatility, and investor sentiment. The competitive landscape includes major asset managers like BlackRock, Vanguard, and State Street, as well as specialized CEF providers. GCEC's closure highlights the challenges faced by smaller ETNs in attracting and retaining investor interest.
Who Are GCEC's Key Customers?
- Retail investors seeking high-yield exposure.
- Institutional investors looking for diversified CEF exposure.
- Income-seeking investors interested in quarterly distributions.
Key Financial Metrics
Return on equity for Clarymore CEF GS Connect ETN stands at 19.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.9%, showing how much profit it generates from its asset base. GCEC trades at a trailing price-to-earnings ratio of 0.00, below the Financial Services sector average of ~18x. A current ratio of 3.91 indicates the company holds enough short-term assets to cover its near-term obligations.
Financial Health
Clarymore CEF GS Connect ETN's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.35 places it in the distress zone, a signal of elevated financial risk.
Insider Activity
The most recent 12 insider filings for Clarymore CEF GS Connect ETN break down as 3 sales and 9 purchases. On net that is roughly 1K shares disposed (about $3.6M), a signal worth weighing alongside the fundamentals.
GCEC Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
GCEC Latest News
No recent news available for GCEC.
GCEC Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for GCEC.
Price Targets
Wall Street price target analysis for GCEC.
GCEC MoonshotScore
What does this score mean?
The MoonshotScore rates GCEC 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
GCEC OTC Market Information
The OTC Other tier, where GCEC traded, represents the lowest tier of the OTC market. Companies in this tier often have limited financial disclosure and may not meet minimum listing requirements of major exchanges like the NYSE or NASDAQ. This tier is considered highly speculative due to the increased risk of fraud, lack of regulatory oversight, and potential for price manipulation. Investors should exercise extreme caution and conduct thorough due diligence before investing in OTC Other stocks, as information availability is often scarce and unreliable. The OTC Other tier contrasts sharply with the stringent listing standards and regulatory requirements of exchanges like NYSE and NASDAQ, which demand regular financial reporting and corporate governance practices.
- OTC Tier: OTC Other
- Limited financial disclosure increases the risk of investing in GCEC.
- Low liquidity can lead to significant price volatility.
- The OTC Other tier has a higher risk of fraud and manipulation.
- GCEC's closure indicates potential financial instability.
- Shell Risk Detected.
- Verify the current status of the ETN and its closure.
- Review any available financial reports or disclosures.
- Assess the liquidity and trading volume of the ETN.
- Research the background and reputation of the issuer, Goldman Sachs.
- Understand the risks associated with investing in OTC Other stocks.
- Consult with a financial advisor before making any investment decisions.
- The ETN was previously issued by Goldman Sachs, a reputable financial institution.
- GCEC tracked an index of US-listed closed-end funds.
- The ETN made quarterly distributions to investors.
GCEC Financial Services Stock FAQ
What does Clarymore CEF GS Connect ETN do?
Clarymore CEF GS Connect ETN (GCEC) tracked an index of US-listed closed-end funds (CEFs), aiming to provide investors with exposure to a high-yield portfolio. The ETN targeted CEFs with large asset bases, high liquidity, and attractive discounts to their net asset value (NAV).
What do analysts say about GCEC stock?
As GCEC is no longer trading, having closed on August 31, 2020, there is no current analyst coverage. Historical analysis focused on the ETN's ability to track its underlying index of closed-end funds and generate income for investors. Key valuation metrics included the discount to NAV of the underlying CEFs and the ETN's distribution yield.
What are the main risks for GCEC?
The main risks for GCEC included the use of leverage by underlying closed-end funds, which could amplify both gains and losses. Additionally, the ETN's lack of transparency and weak investor interest contributed to its closure. As an OTC Other stock, GCEC faced risks associated with limited financial disclosure, low liquidity, and potential for fraud and manipulation.
How did GCEC generate returns for investors?
GCEC aimed to generate returns for investors through two primary mechanisms: income distributions and potential capital appreciation. The ETN made quarterly distributions derived from the income generated by the underlying portfolio of closed-end funds (CEFs). Additionally, the ETN sought to benefit from the narrowing of discounts to net asset value (NAV) among the CEFs it tracked.
What factors led to the closure of Clarymore CEF GS Connect ETN?
Several factors contributed to the closure of Clarymore CEF GS Connect ETN (GCEC). Weak investor interest played a significant role, as the ETN struggled to attract and retain assets under management (AUM). The lack of transparency from the issuer, Goldman Sachs, regarding the ETN's methodology and mechanics may have also deterred potential investors.
What are the key factors to evaluate for GCEC?
Evaluate GCEC on fundamentals, analyst consensus, and risk factors. P/E: 0.0x vs the S&P 500's ~20-25x. The Clarymore CEF GS Connect ETN (GCEC) is no longer trading, having closed on August 31, 2020. Not financial advice.
How frequently does GCEC data refresh on this page?
GCEC's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven GCEC's recent stock price performance?
Clarymore CEF GS Connect ETN (GCEC) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: N/A: The ETN has closed and is no longer trading. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- The ETN has closed and is no longer trading. Information is based on historical data and may not be relevant for current investment decisions.