Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) to Issue Quarterly Dividend of $0.22

Key Points

• Ellsworth Growth and Income Fund declared a quarterly dividend of $0.22 per share, payable September 23 to shareholders of record on September 16. The payout is a 15.8% increase from the prior $0.19 dividend and represents a 6.8% annualized yield.
• ECF opened at $13.00, compared with a 52-week range of $10.60 to $13.85; its 50-day and 200-day moving averages were $12.77 and $12.36, respectively.
• Institutional ownership stands at 35.88%, with several major investors increasing their positions, including Advisors Asset Management, which raised its holdings by 72.9%.

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) announced a quarterly dividend on Wednesday, August 12th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.22 per share by the investment management company on Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a 15.8% increase from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.19.

Ellsworth Growth and Income Fund Stock Performance

NYSEAMERICAN:ECF opened at $13.00 on Thursday. Ellsworth Growth and Income Fund has a 52 week low of $10.60 and a 52 week high of $13.85. The stock's 50-day moving average price is $12.77 and its 200-day moving average price is $12.36.

Institutional Trading of Ellsworth Growth and Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in ECF. Saba Capital Management L.P. lifted its position in shares of Ellsworth Growth and Income Fund by 2.8% during the 4th 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 buying an additional 45,368 shares in the last quarter. Wells Fargo & Company MN increased its holdings in 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 acquiring an additional 30,142 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in 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 acquiring an additional 43,839 shares in the last quarter. Advisors Asset Management Inc. raised its position in Ellsworth Growth and Income Fund by 72.9% during the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company's stock worth $4,581,000 after acquiring an additional 166,043 shares during the period. Finally, Pathstone Holdings LLC lifted its holdings in Ellsworth Growth and Income Fund by 42.0% during the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company's stock valued at $4,525,000 after purchasing an additional 115,441 shares in the last quarter. 35.88% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source