Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Short Interest Update

Key Points

• Short interest plunged 82.5% to 683 shares as of August 14, representing approximately 0.0% of outstanding shares and a negligible days-to-cover ratio.
• ECF shares rose 0.2% to $12.49, while trading within a one-year range of $10.70 to $13.85.
• The fund increased its quarterly dividend to $0.22 per share, or $0.88 annualized, resulting in a 7.0% yield; major shareholder Saba Capital also added 5,742 shares.

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 683 shares, a decrease of 82.5% from the July 30th total of 3,904 shares. Based on an average daily trading volume, of 17,113 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company's shares are short sold.

Ellsworth Growth and Income Fund Trading Up 0.2%

Shares of ECF stock traded up $0.02 on Wednesday, reaching $12.49. 14,555 shares of the stock were exchanged, compared to its average volume of 30,846. Ellsworth Growth and Income Fund has a one year low of $10.70 and a one year high of $13.85. The stock has a 50 day moving average price of $12.71 and a 200 day moving average price of $12.38.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.0%. This is an increase from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.19.

Insider Transactions at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 5,742 shares of the firm's stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $12.53 per share, for a total transaction of $71,947.26. Following the transaction, the insider owned 1,611,562 shares of the company's stock, valued at approximately $20,192,871.86. This represents a 0.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ECF. K2 Principal Fund L.P. grew its stake in Ellsworth Growth and Income Fund by 3.5% in the fourth 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 during the period. Raymond James Financial Inc. raised its position in shares of Ellsworth Growth and Income Fund by 1.3% during the third quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company's stock worth $934,000 after purchasing an additional 996 shares during the period. Uhlmann Price Securities LLC raised its position in shares of Ellsworth Growth and Income Fund by 1.5% during the first quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company's stock worth $766,000 after purchasing an additional 1,000 shares during the period. Waverly Advisors LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 3.2% during the 1st quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company's stock valued at $474,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 1.0% during the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company's stock valued at $1,488,000 after purchasing an additional 1,475 shares in the last quarter. Institutional investors own 35.88% of the company's stock.

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.

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