Short Interest in Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Grows By 167.8%

Key Points

• Short interest surged 167.8% to 1,829 shares as of August 31, though this represents approximately 0.0% of outstanding shares and only 0.1 days to cover.
• Ellsworth Growth and Income Fund raised its quarterly dividend to $0.22 per share from $0.19, equating to an annualized dividend of $0.88 and a 7.0% yield.
• Shares opened at $12.51, near their 50-day average of $12.53, while institutional investors owned 35.88% of the fund and insiders purchased shares during the latest quarter.

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,829 shares, an increase of 167.8% from the August 15th total of 683 shares. Approximately 0.0% of the company's shares are sold short. Based on an average trading volume of 24,666 shares, the days-to-cover ratio is currently 0.1 days.

Ellsworth Growth and Income Fund Price Performance

Shares of NYSEAMERICAN ECF opened at $12.51 on Friday. The firm has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $12.40. Ellsworth Growth and Income Fund has a twelve month low of $10.70 and a twelve month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued 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. This represents a $0.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Wednesday, September 16th.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 6,800 shares of the firm's stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $12.36 per share, with a total value of $84,048.00. Following the transaction, the insider owned 1,628,462 shares of the company's stock, valued at $20,127,790.32. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 24,189 shares of company stock valued at $300,289 in the last quarter. Corporate insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. K2 Principal Fund L.P. increased its holdings in shares of 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 worth $286,000 after purchasing an additional 834 shares during the period. Raymond James Financial Inc. boosted its stake in Ellsworth Growth and Income Fund by 1.3% in the third quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company's stock worth $934,000 after buying an additional 996 shares in the last quarter. Uhlmann Price Securities LLC boosted its stake in shares of Ellsworth Growth and Income Fund by 1.5% in the 1st quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company's stock valued at $766,000 after purchasing an additional 1,000 shares in the last quarter. Waverly Advisors LLC grew its stake in shares of Ellsworth Growth and Income Fund by 3.2% during the first quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company's stock valued at $474,000 after buying an additional 1,300 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company's stock worth $1,488,000 after purchasing an additional 1,475 shares during the period. Institutional investors own 35.88% of the company's stock.

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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