Shaker Financial Services LLC Has $1.29 Million Stock Holdings in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)

Key Points

• Shaker Financial Services LLC increased its holdings in the Ellsworth Growth and Income Fund by 33.1%, acquiring an additional 35,255 shares, bringing its total ownership to about $1.29 million.
• The Ellsworth Growth and Income Fund recently raised its quarterly dividend from $0.13 to $0.16, reflecting a 6.1% yield for shareholders.
• Institutional investors hold 35.88% of the Ellsworth Growth and Income Fund, with several funds significantly increasing their stakes in recent months.

Shaker Financial Services LLC grew its stake in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,706 shares of the company's stock after purchasing an additional 35,255 shares during the period. Shaker Financial Services LLC owned approximately 1.04% of Ellsworth Growth and Income Fund worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ECF. Sit Investment Associates Inc. grew its stake in shares of Ellsworth Growth and Income Fund by 161.5% in the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company's stock valued at $3,084,000 after purchasing an additional 196,567 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Ellsworth Growth and Income Fund in the 4th quarter valued at approximately $881,000. Guggenheim Capital LLC grew its stake in shares of Ellsworth Growth and Income Fund by 5.5% in the 4th quarter. Guggenheim Capital LLC now owns 159,410 shares of the company's stock valued at $1,545,000 after purchasing an additional 8,245 shares during the period. Capstone Investment Advisors LLC grew its stake in shares of Ellsworth Growth and Income Fund by 179.8% in the 4th quarter. Capstone Investment Advisors LLC now owns 79,774 shares of the company's stock valued at $773,000 after purchasing an additional 51,262 shares during the period. Finally, Bulldog Investors LLP boosted its holdings in shares of Ellsworth Growth and Income Fund by 238.2% in the 4th quarter. Bulldog Investors LLP now owns 314,426 shares of the company's stock worth $3,045,000 after acquiring an additional 221,447 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

Ellsworth Growth and Income Fund Stock Up 0.4%

Shares of ECF traded up $0.04 on Wednesday, hitting $10.54. The company's stock had a trading volume of 51,167 shares, compared to its average volume of 39,394. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $8.15 and a fifty-two week high of $10.70. The company has a 50 day moving average price of $10.22 and a 200 day moving average price of $9.70.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.13.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.