Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Shares Cross Above 50 Day Moving Average – Time to Sell?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.49 and traded as high as $13.34. Ellsworth Growth and Income Fund shares last traded at $12.87, with a volume of 39,277 shares changing hands.

Ellsworth Growth and Income Fund Stock Down 1.0%

The stock’s 50 day moving average price is $12.49 and its 200-day moving average price is $12.07.

Ellsworth Growth and Income Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.9%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of Ellsworth Growth and Income Fund by 31.2% in the second quarter. Invesco Ltd. now owns 161,109 shares of the investment management company’s stock worth $1,651,000 after buying an additional 38,271 shares during the period. Baird Financial Group Inc. increased its stake in shares of Ellsworth Growth and Income Fund by 1.0% in the second quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company’s stock worth $1,488,000 after buying an additional 1,475 shares during the period. NewEdge Advisors LLC increased its stake in shares of Ellsworth Growth and Income Fund by 44.8% in the second quarter. NewEdge Advisors LLC now owns 75,407 shares of the investment management company’s stock worth $773,000 after buying an additional 23,340 shares during the period. Osaic Holdings Inc. increased its stake in shares of Ellsworth Growth and Income Fund by 11.1% in the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock worth $157,000 after buying an additional 1,535 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Ellsworth Growth and Income Fund by 33.8% in the third quarter. Advisors Asset Management Inc. now owns 227,875 shares of the investment management company’s stock worth $2,643,000 after buying an additional 57,520 shares during the period. Hedge funds and other 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.