Short Interest in Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Decreases By 23.1%

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 12,973 shares, a drop of 23.1% from the February 26th total of 16,864 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 35,290 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $11.95, for a total value of $313,305.10. Following the sale, the insider directly owned 1,646,578 shares of the company’s stock, valued at approximately $19,676,607.10. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 76,347 shares of company stock worth $923,828 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds have recently bought and sold shares of ECF. Gilpin Wealth Management LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the 4th quarter worth $47,000. Osaic Holdings Inc. raised its position in shares of Ellsworth Growth and Income Fund by 11.1% during the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock valued at $157,000 after buying an additional 1,535 shares in the last quarter. PMG Family Office LLC bought a new position in shares of Ellsworth Growth and Income Fund in the 3rd quarter valued at about $212,000. LPL Financial LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 27.7% in the 4th quarter. LPL Financial LLC now owns 23,308 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 5,051 shares during the last quarter. Finally, K2 Principal Fund L.P. grew its position 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 worth $286,000 after acquiring an additional 834 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Stock Performance

NYSEAMERICAN ECF traded up $0.37 during trading on Tuesday, hitting $11.15. 19,640 shares of the stock traded hands, compared to its average volume of 38,255. Ellsworth Growth and Income Fund has a 12-month low of $8.15 and a 12-month high of $12.65. The firm has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $11.88.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.8%. The ex-dividend date was Tuesday, March 17th.

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.