Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Short Interest Down 82.5% in August

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

Ellsworth Growth and Income Fund Trading Down 0.3%

Shares of NYSEAMERICAN:ECF traded down $0.04 during midday trading on Friday, reaching $12.43. 45,526 shares of the company were exchanged, compared to its average volume of 18,849. The stock has a fifty day simple moving average of $12.66 and a two-hundred day simple moving average of $12.39. Ellsworth Growth and Income Fund has a fifty-two week low of $10.70 and a fifty-two week 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. Investors of record on Wednesday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 16th. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.1%.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock in a transaction dated Friday, August 21st. The stock was bought at an average price of $12.53 per share, for a total transaction of $71,947.26. Following the completion of the acquisition, the insider directly owned 1,611,562 shares of the company’s stock, valued at $20,192,871.86. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 11,189 shares of company stock valued at $140,027 over the last 90 days. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several institutional investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $1,076,000. Sit Investment Associates Inc. boosted its holdings in Ellsworth Growth and Income Fund by 4.9% during the fourth quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock worth $10,846,000 after purchasing an additional 43,839 shares during the last quarter. Evolve Private Wealth LLC bought a new position in Ellsworth Growth and Income Fund in the second quarter valued at $875,000. Ruggaard & Associates LLC acquired a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at $248,000. Finally, Global Retirement Partners LLC bought a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth about $28,000. 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.