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

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) was the target of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 16,864 shares, a decrease of 52.9% from the February 12th total of 35,777 shares. Based on an average trading volume of 35,420 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 35,420 shares, the days-to-cover ratio is currently 0.5 days.

Insider Buying and Selling at Ellsworth Growth and Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $12.16, for a total transaction of $177,426.56. Following the completion of the sale, the insider owned 1,604,273 shares in the company, valued at $19,507,959.68. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 76,347 shares of company stock worth $923,828. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several large investors have recently bought and sold shares of ECF. Saba Capital Management L.P. grew 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 worth $19,546,000 after purchasing an additional 45,368 shares during the last quarter. Wells Fargo & Company MN lifted 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 valued at $11,007,000 after purchasing an additional 30,142 shares during the last quarter. Sit Investment Associates Inc. boosted its position 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 valued at $10,846,000 after purchasing an additional 43,839 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Ellsworth Growth and Income Fund by 72.9% in the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock valued at $4,581,000 after purchasing an additional 166,043 shares during the period. Finally, Pathstone Holdings LLC grew its stake in 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 buying an additional 115,441 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Stock Performance

Ellsworth Growth and Income Fund stock traded down $0.08 during mid-day trading on Thursday, hitting $11.43. The company had a trading volume of 43,000 shares, compared to its average volume of 33,820. Ellsworth Growth and Income Fund has a 1 year low of $8.15 and a 1 year high of $12.65. The business has a fifty day moving average of $12.06 and a 200 day moving average of $11.86.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.6%. The ex-dividend date is 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.