Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock Crosses Above 50 Day Moving Average – What’s Next?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.72 and traded as high as $13.33. Ellsworth Growth and Income Fund shares last traded at $12.98, with a volume of 22,668 shares traded.

Ellsworth Growth and Income Fund Price Performance

The business’s fifty day moving average price is $12.72 and its 200-day moving average price is $12.14.

Ellsworth Growth and Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Gilpin Wealth Management LLC purchased a new stake in shares of Ellsworth Growth and Income Fund in the fourth quarter worth about $47,000. Osaic Holdings Inc. raised its stake in Ellsworth Growth and Income Fund by 11.1% in the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock valued at $157,000 after purchasing an additional 1,535 shares in the last quarter. PMG Family Office LLC purchased a new stake in Ellsworth Growth and Income Fund in the third quarter valued at approximately $212,000. LPL Financial LLC raised its stake in Ellsworth Growth and Income Fund by 27.7% in the fourth quarter. LPL Financial LLC now owns 23,308 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 5,051 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its stake in Ellsworth Growth and Income Fund by 3.5% in the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 834 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.