Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Shares Shorted: Short Interest Up 279.9% in October

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) saw a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 37,653 shares, a growth of 279.9% from the October 15th total of 9,912 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 22,005 shares, the short-interest ratio is presently 1.7 days.

Ellsworth Growth and Income Fund Trading Down 0.7%

NYSEAMERICAN:ECF traded down $0.09 during midday trading on Thursday, reaching $11.57. 4,783 shares of the company traded hands, compared to its average volume of 31,840. Ellsworth Growth and Income Fund has a twelve month low of $10.70 and a twelve month high of $13.85. The company has a fifty day moving average price of $11.91 and a 200 day moving average price of $12.26.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, November 23rd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 34.9%. The ex-dividend date of this dividend is Monday, November 23rd. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.22.

Insiders Place Their Bets

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. bought 7,747 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were purchased at an average price of $11.34 per share, with a total value of $87,850.98. Following the completion of the acquisition, the insider directly owned 1,821,810 shares of the company’s stock, valued at approximately $20,659,325.40. The trade was a 0.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 217,537 shares of company stock worth $2,573,176 in the last quarter. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ECF. Global Retirement Partners LLC acquired a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at approximately $28,000. Readystate Asset Management LP acquired a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at $154,000. Beckerman Institutional LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at $169,000. Atlas Wealth LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the third quarter worth approximately $210,000. Finally, Ruggaard & Associates LLC purchased a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $248,000. Institutional investors own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc. (NYSE American: ECF) is a diversified closed-end management investment company. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities. ECF invests primarily in convertible securities, including convertible bonds and convertible preferred stocks, as well as common stocks. Convertible securities may offer income while also providing the potential to participate in the equity appreciation of the underlying companies.