Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Short Interest Down 23.1% in March

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) was the target of a significant drop in short interest in 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. Based on an average daily trading volume, of 35,290 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $12.16, for a total transaction of $177,426.56. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 76,347 shares of company stock worth $923,828 over the last 90 days. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors have recently bought and sold shares of ECF. Gilpin Wealth Management LLC bought a new stake in Ellsworth Growth and Income Fund in the 4th quarter valued at $47,000. Osaic Holdings Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 11.1% during the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock worth $157,000 after acquiring an additional 1,535 shares during the period. PMG Family Office LLC bought a new position in shares of Ellsworth Growth and Income Fund during the 3rd quarter worth about $212,000. LPL Financial LLC boosted its position in shares of Ellsworth Growth and Income Fund by 27.7% during the 4th quarter. LPL Financial LLC now owns 23,308 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 5,051 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its position in shares of Ellsworth Growth and Income Fund by 3.5% during the 4th quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 834 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Trading Down 2.1%

Shares of ECF stock opened at $10.82 on Friday. The stock has a 50 day moving average of $11.88 and a two-hundred day moving average of $11.88. Ellsworth Growth and Income Fund has a 12 month low of $8.15 and a 12 month high of $12.65.

Ellsworth Growth and Income Fund Cuts Dividend

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

Ellsworth Growth and Income Fund Company Profile

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.