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) 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.

Ellsworth Growth and Income Fund Stock Down 1.0%

The firm’s 50 day moving average is $12.49 and its 200 day moving average is $12.07.

Ellsworth Growth and Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be given 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%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds have recently bought and sold shares of ECF. Invesco Ltd. boosted its stake in Ellsworth Growth and Income Fund by 31.2% in the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the investment management company’s stock worth $1,651,000 after purchasing an additional 38,271 shares in the last quarter. Baird Financial Group Inc. boosted 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 in the last quarter. NewEdge Advisors LLC boosted its stake in Ellsworth Growth and Income Fund by 44.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the investment management company’s stock worth $773,000 after purchasing an additional 23,340 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Ellsworth Growth and Income Fund by 11.1% in the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock worth $157,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Ellsworth Growth and Income Fund by 33.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the investment management company’s stock worth $2,643,000 after purchasing an additional 57,520 shares in the last quarter. 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.