Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Sees Large Growth in Short Interest

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,829 shares, a growth of 167.8% from the August 15th total of 683 shares. Based on an average trading volume of 24,666 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 6,800 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $12.36 per share, with a total value of $84,048.00. Following the transaction, the insider owned 1,628,462 shares of the company’s stock, valued at $20,127,790.32. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 24,189 shares of company stock worth $300,289. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at about $154,000. Ruggaard & Associates LLC acquired a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $248,000. Capstone Investment Advisors LLC acquired a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $1,076,000. Evolve Private Wealth LLC acquired a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $875,000. Finally, Beckerman Institutional LLC bought a new stake in Ellsworth Growth and Income Fund in the second quarter worth approximately $169,000. 35.88% of the stock is owned by institutional investors.

Ellsworth Growth and Income Fund Trading Down 1.1%

Shares of NYSEAMERICAN:ECF traded down $0.14 during trading on Monday, reaching $12.37. The stock had a trading volume of 29,888 shares, compared to its average volume of 30,654. Ellsworth Growth and Income Fund has a 52 week low of $10.70 and a 52 week high of $13.85. The firm’s fifty day moving average is $12.52 and its 200 day moving average is $12.41.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.1%. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, September 16th.

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.