Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Sees Large Decrease in Short Interest

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 12,973 shares, a drop of 23.1% from the February 26th total of 16,864 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 35,290 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $11.95, for a total transaction of $313,305.10. Following the sale, the insider directly owned 1,646,578 shares of the company’s stock, valued at approximately $19,676,607.10. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 76,347 shares of company stock worth $923,828 in the last three months. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. lifted its holdings in shares of Ellsworth Growth and Income Fund by 2.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after acquiring an additional 45,368 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Ellsworth Growth and Income Fund by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company’s stock worth $11,007,000 after purchasing an additional 30,142 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Ellsworth Growth and Income Fund by 4.9% in the 4th quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock worth $10,846,000 after purchasing an additional 43,839 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Ellsworth Growth and Income Fund by 72.9% during the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after purchasing an additional 166,043 shares in the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock worth $4,525,000 after purchasing an additional 115,441 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Ellsworth Growth and Income Fund Trading Down 2.1%

ECF stock opened at $10.82 on Friday. Ellsworth Growth and Income Fund has a 1-year low of $8.15 and a 1-year high of $12.65. The business’s 50 day moving average is $11.88 and its 200-day moving average is $11.88.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Tuesday, March 17th.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.

ECF’s investment strategy emphasizes a disciplined, research-driven approach.