<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.4a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_S000001084Member" xlink:label="CIK0000796229_S000001084Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_S000001084Member" xlink:to="CIK0000796229_S000001084Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_S000001084Member_lbl" xml:lang="en-US">TETON WESTWOOD MIGHTY MITES FUND</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_EquityMarketRiskMember" xlink:label="CIK0000796229_EquityMarketRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_EquityMarketRiskMember" xlink:to="CIK0000796229_EquityMarketRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_EquityMarketRiskMember_lbl" xml:lang="en-US">Equity Market Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_SmallAndMicrocapCompanyRiskMember" xlink:label="CIK0000796229_SmallAndMicrocapCompanyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_SmallAndMicrocapCompanyRiskMember" xlink:to="CIK0000796229_SmallAndMicrocapCompanyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_SmallAndMicrocapCompanyRiskMember_lbl" xml:lang="en-US">Small And Microcap Company Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_IndustrialsRiskMember" xlink:label="CIK0000796229_IndustrialsRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_IndustrialsRiskMember" xlink:to="CIK0000796229_IndustrialsRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_IndustrialsRiskMember_lbl" xml:lang="en-US">Industrials Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_ConsumerDiscretionaryRiskMember" xlink:label="CIK0000796229_ConsumerDiscretionaryRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_ConsumerDiscretionaryRiskMember" xlink:to="CIK0000796229_ConsumerDiscretionaryRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_ConsumerDiscretionaryRiskMember_lbl" xml:lang="en-US">Consumer Discretionary Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_ForeignSecuritiesRiskMember" xlink:label="CIK0000796229_ForeignSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_ForeignSecuritiesRiskMember" xlink:to="CIK0000796229_ForeignSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_ForeignSecuritiesRiskMember_lbl" xml:lang="en-US">Foreign Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_ManagementRiskMember" xlink:label="CIK0000796229_ManagementRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_ManagementRiskMember" xlink:to="CIK0000796229_ManagementRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_ManagementRiskMember_lbl" xml:lang="en-US">Management Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_GeopoliticalRiskMember" xlink:label="CIK0000796229_GeopoliticalRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_GeopoliticalRiskMember" xlink:to="CIK0000796229_GeopoliticalRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_GeopoliticalRiskMember_lbl" xml:lang="en-US">Geopolitical Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_S000001085Member" xlink:label="CIK0000796229_S000001085Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_S000001085Member" xlink:to="CIK0000796229_S000001085Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_S000001085Member_lbl" xml:lang="en-US">Keeley Small Cap Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_YouMayWantToInvestInFundIfMember" xlink:label="CIK0000796229_YouMayWantToInvestInFundIfMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_YouMayWantToInvestInFundIfMember" xlink:to="CIK0000796229_YouMayWantToInvestInFundIfMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_YouMayWantToInvestInFundIfMember_lbl" xml:lang="en-US">You May Want To Invest In Fund If [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_InformationTechnologyRiskMember" xlink:label="CIK0000796229_InformationTechnologyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_InformationTechnologyRiskMember" xlink:to="CIK0000796229_InformationTechnologyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_InformationTechnologyRiskMember_lbl" xml:lang="en-US">Information Technology Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_FinancialServicesRiskMember" xlink:label="CIK0000796229_FinancialServicesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_FinancialServicesRiskMember" xlink:to="CIK0000796229_FinancialServicesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_FinancialServicesRiskMember_lbl" xml:lang="en-US">Financial Services Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_SectorRiskMember" xlink:label="CIK0000796229_SectorRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_SectorRiskMember" xlink:to="CIK0000796229_SectorRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_SectorRiskMember_lbl" xml:lang="en-US">Sector Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_S000001082Member" xlink:label="CIK0000796229_S000001082Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_S000001082Member" xlink:to="CIK0000796229_S000001082Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_S000001082Member_lbl" xml:lang="en-US">TETON Convertible Securities Fund</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_ConvertibleSecuritiesRiskMember" xlink:label="CIK0000796229_ConvertibleSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_ConvertibleSecuritiesRiskMember" xlink:to="CIK0000796229_ConvertibleSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_ConvertibleSecuritiesRiskMember_lbl" xml:lang="en-US">Convertible Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_InformationTechnologyRisksMember" xlink:label="CIK0000796229_InformationTechnologyRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_InformationTechnologyRisksMember" xlink:to="CIK0000796229_InformationTechnologyRisksMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_InformationTechnologyRisksMember_lbl" xml:lang="en-US">Information Technology Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditRiskMember" xlink:label="us-gaap_CreditRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditRiskMember" xlink:to="us-gaap_CreditRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditRiskMember_lbl" xml:lang="en-US">Credit Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_HighYieldSecuritiesRiskMember" xlink:label="CIK0000796229_HighYieldSecuritiesRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_HighYieldSecuritiesRiskMember" xlink:to="CIK0000796229_HighYieldSecuritiesRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_HighYieldSecuritiesRiskMember_lbl" xml:lang="en-US">High Yield Securities Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestRateRiskMember" xlink:label="us-gaap_InterestRateRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateRiskMember" xlink:to="us-gaap_InterestRateRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateRiskMember_lbl" xml:lang="en-US">Interest Rate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_SmallCapCompanyRiskMember" xlink:label="CIK0000796229_SmallCapCompanyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_SmallCapCompanyRiskMember" xlink:to="CIK0000796229_SmallCapCompanyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_SmallCapCompanyRiskMember_lbl" xml:lang="en-US">Small Cap Company Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_S000001081Member" xlink:label="CIK0000796229_S000001081Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_S000001081Member" xlink:to="CIK0000796229_S000001081Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_S000001081Member_lbl" xml:lang="en-US">TETON WESTWOOD EQUITY FUND</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_LargeCapRiskMember" xlink:label="CIK0000796229_LargeCapRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_LargeCapRiskMember" xlink:to="CIK0000796229_LargeCapRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_LargeCapRiskMember_lbl" xml:lang="en-US">Large Cap Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_S000001080Member" xlink:label="CIK0000796229_S000001080Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_S000001080Member" xlink:to="CIK0000796229_S000001080Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_S000001080Member_lbl" xml:lang="en-US">TETON WESTWOOD BALANCED FUND</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaymentRiskMember" xlink:label="us-gaap_PrepaymentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaymentRiskMember" xlink:to="us-gaap_PrepaymentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaymentRiskMember_lbl" xml:lang="en-US">Prepayment Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002928Member" xlink:label="CIK0000796229_C000002928Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002928Member" xlink:to="CIK0000796229_C000002928Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002928Member_lbl" xml:lang="en-US">TETON WESTWOOD MIGHTY MITES FUND CLASS AAA</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002927Member" xlink:label="CIK0000796229_C000002927Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002927Member" xlink:to="CIK0000796229_C000002927Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002927Member_lbl" xml:lang="en-US">TETON WESTWOOD MIGHTY MITES FUND CLASS A</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002930Member" xlink:label="CIK0000796229_C000002930Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002930Member" xlink:to="CIK0000796229_C000002930Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002930Member_lbl" xml:lang="en-US">TETON WESTWOOD MIGHTY MITES FUND CLASS C</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000061067Member" xlink:label="CIK0000796229_C000061067Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000061067Member" xlink:to="CIK0000796229_C000061067Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000061067Member_lbl" xml:lang="en-US">TETON WESTWOOD MIGHTY MITES FUND Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002934Member" xlink:label="CIK0000796229_C000002934Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002934Member" xlink:to="CIK0000796229_C000002934Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002934Member_lbl" xml:lang="en-US">Keeley Small Cap Fund CLASS AAA</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002931Member" xlink:label="CIK0000796229_C000002931Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002931Member" xlink:to="CIK0000796229_C000002931Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002931Member_lbl" xml:lang="en-US">Keeley Small Cap Fund CLASS A</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002933Member" xlink:label="CIK0000796229_C000002933Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002933Member" xlink:to="CIK0000796229_C000002933Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002933Member_lbl" xml:lang="en-US">Keeley Small Cap Fund CLASS C</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000061068Member" xlink:label="CIK0000796229_C000061068Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000061068Member" xlink:to="CIK0000796229_C000061068Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000061068Member_lbl" xml:lang="en-US">Keeley Small Cap Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002922Member" xlink:label="CIK0000796229_C000002922Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002922Member" xlink:to="CIK0000796229_C000002922Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002922Member_lbl" xml:lang="en-US">TETON Convertible Securities Fund CLASS AAA</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002919Member" xlink:label="CIK0000796229_C000002919Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002919Member" xlink:to="CIK0000796229_C000002919Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002919Member_lbl" xml:lang="en-US">TETON Convertible Securities Fund CLASS A</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002921Member" xlink:label="CIK0000796229_C000002921Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002921Member" xlink:to="CIK0000796229_C000002921Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002921Member_lbl" xml:lang="en-US">TETON Convertible Securities Fund CLASS C</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000061065Member" xlink:label="CIK0000796229_C000061065Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000061065Member" xlink:to="CIK0000796229_C000061065Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000061065Member_lbl" xml:lang="en-US">TETON Convertible Securities Fund Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002918Member" xlink:label="CIK0000796229_C000002918Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002918Member" xlink:to="CIK0000796229_C000002918Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002918Member_lbl" xml:lang="en-US">TETON WESTWOOD EQUITY FUND CLASS AAA</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002917Member" xlink:label="CIK0000796229_C000002917Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002917Member" xlink:to="CIK0000796229_C000002917Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002917Member_lbl" xml:lang="en-US">TETON WESTWOOD EQUITY FUND CLASS A</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002916Member" xlink:label="CIK0000796229_C000002916Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002916Member" xlink:to="CIK0000796229_C000002916Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002916Member_lbl" xml:lang="en-US">TETON WESTWOOD EQUITY FUND CLASS C</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000061064Member" xlink:label="CIK0000796229_C000061064Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000061064Member" xlink:to="CIK0000796229_C000061064Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000061064Member_lbl" xml:lang="en-US">TETON WESTWOOD EQUITY FUND Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002912Member" xlink:label="CIK0000796229_C000002912Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002912Member" xlink:to="CIK0000796229_C000002912Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002912Member_lbl" xml:lang="en-US">TETON WESTWOOD BALANCED FUND CLASS AAA</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002911Member" xlink:label="CIK0000796229_C000002911Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002911Member" xlink:to="CIK0000796229_C000002911Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002911Member_lbl" xml:lang="en-US">TETON WESTWOOD BALANCED FUND CLASS A</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000002914Member" xlink:label="CIK0000796229_C000002914Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000002914Member" xlink:to="CIK0000796229_C000002914Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000002914Member_lbl" xml:lang="en-US">TETON WESTWOOD BALANCED FUND CLASS C</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_C000061063Member" xlink:label="CIK0000796229_C000061063Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_C000061063Member" xlink:to="CIK0000796229_C000061063Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_C000061063Member_lbl" xml:lang="en-US">TETON WESTWOOD BALANCED FUND Class I</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_Russell2000IndexMember" xlink:label="CIK0000796229_Russell2000IndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_Russell2000IndexMember" xlink:to="CIK0000796229_Russell2000IndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_Russell2000IndexMember_lbl" xml:lang="en-US">Russell 2000 Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_DowJonesUSMicroCapTotalStockMarketIndexMember" xlink:label="CIK0000796229_DowJonesUSMicroCapTotalStockMarketIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_DowJonesUSMicroCapTotalStockMarketIndexMember" xlink:to="CIK0000796229_DowJonesUSMicroCapTotalStockMarketIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_DowJonesUSMicroCapTotalStockMarketIndexMember_lbl" xml:lang="en-US">Dow Jones U.S. Micro-cap Total Stock Market Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_Russell2000ValueIndexMember" xlink:label="CIK0000796229_Russell2000ValueIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_Russell2000ValueIndexMember" xlink:to="CIK0000796229_Russell2000ValueIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_Russell2000ValueIndexMember_lbl" xml:lang="en-US">Russell 2000 Value Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_ICEBankOfAmericaMerrillLynchUSConvertiblesIndexMember" xlink:label="CIK0000796229_ICEBankOfAmericaMerrillLynchUSConvertiblesIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_ICEBankOfAmericaMerrillLynchUSConvertiblesIndexMember" xlink:to="CIK0000796229_ICEBankOfAmericaMerrillLynchUSConvertiblesIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_ICEBankOfAmericaMerrillLynchUSConvertiblesIndexMember_lbl" xml:lang="en-US">ICE Bank of America Merrill Lynch U.S. Convertibles Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_StandardAndPoors500IndexMember" xlink:label="CIK0000796229_StandardAndPoors500IndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_StandardAndPoors500IndexMember" xlink:to="CIK0000796229_StandardAndPoors500IndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_StandardAndPoors500IndexMember_lbl" xml:lang="en-US">Standard &amp; Poor&#146;s 500 Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_SAndP500IndexMember" xlink:label="CIK0000796229_SAndP500IndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_SAndP500IndexMember" xlink:to="CIK0000796229_SAndP500IndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_SAndP500IndexMember_lbl" xml:lang="en-US">S&amp;P 500 Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_BloombergBarclaysGovernmentCreditBondIndexMember" xlink:label="CIK0000796229_BloombergBarclaysGovernmentCreditBondIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_BloombergBarclaysGovernmentCreditBondIndexMember" xlink:to="CIK0000796229_BloombergBarclaysGovernmentCreditBondIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_BloombergBarclaysGovernmentCreditBondIndexMember_lbl" xml:lang="en-US">Bloomberg Barclays Government/Credit Bond Index</link:label>
      <link:loc xlink:type="locator" xlink:href="cik0000796229-20260128.xsd#CIK0000796229_SixtyPercentageSAndP500IndexAndFourtyPercentageBarclaysGovernmentCreditBondIndexMember" xlink:label="CIK0000796229_SixtyPercentageSAndP500IndexAndFourtyPercentageBarclaysGovernmentCreditBondIndexMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CIK0000796229_SixtyPercentageSAndP500IndexAndFourtyPercentageBarclaysGovernmentCreditBondIndexMember" xlink:to="CIK0000796229_SixtyPercentageSAndP500IndexAndFourtyPercentageBarclaysGovernmentCreditBondIndexMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="CIK0000796229_SixtyPercentageSAndP500IndexAndFourtyPercentageBarclaysGovernmentCreditBondIndexMember_lbl" xml:lang="en-US">60% S&amp;P 500 Index and 40% Barclays Government/Credit Bond Index</link:label>
    </link:labelLink>
</link:linkbase>
