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

Key Points

• Short interest fell 37.6% to 3,904 shares as of July 31, representing 0.0% of ECF’s outstanding shares and a short-interest ratio of 0.3 days.
• Institutional ownership stands at 35.88%, with several investors establishing new positions and Osaic Holdings increasing its stake by 11.1%.
• ECF raised its quarterly dividend to $0.22 per share, equivalent to $0.88 annually and a 6.9% yield; shares recently traded at $12.80.

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 3,904 shares, a drop of 37.6% from the July 15th total of 6,261 shares. Based on an average trading volume of 14,558 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors have recently bought and sold shares of ECF. Global Retirement Partners LLC bought a new stake in Ellsworth Growth and Income Fund during the second quarter valued at about $28,000. Gilpin Wealth Management LLC bought a new position in shares of Ellsworth Growth and Income Fund in the fourth quarter worth about $47,000. Osaic Holdings Inc. grew its position in shares of Ellsworth Growth and Income Fund by 11.1% during the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company's stock worth $157,000 after purchasing an additional 1,535 shares in the last quarter. Beckerman Institutional LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the second quarter worth about $169,000. Finally, Ruggaard & Associates LLC bought a new stake in Ellsworth Growth and Income Fund during the 2nd quarter valued at approximately $248,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

Ellsworth Growth and Income Fund Stock Performance

Shares of ECF traded down $0.19 during mid-day trading on Tuesday, reaching $12.80. The stock had a trading volume of 22,222 shares, compared to its average volume of 31,194. Ellsworth Growth and Income Fund has a 12 month low of $10.60 and a 12 month high of $13.85. The business has a fifty day moving average of $12.76 and a 200 day moving average of $12.37.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a dividend of $0.22 per share. This is a positive change from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.9%.

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.

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