Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Short Interest Update

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 8,752 shares, an increase of 378.5% from the August 31st total of 1,829 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 25,718 shares, the short-interest ratio is presently 0.3 days.

Insider Activity

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. acquired 6,800 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $12.36 per share, for a total transaction of $84,048.00. Following the acquisition, the insider owned 1,628,462 shares in the company, valued at $20,127,790.32. The trade was a 0.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 24,189 shares of company stock worth $300,289. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Readystate Asset Management LP acquired a new stake in Ellsworth Growth and Income Fund in the second quarter valued at about $154,000. Ruggaard & Associates LLC purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth about $248,000. Capstone Investment Advisors LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the second quarter valued at approximately $1,076,000. Evolve Private Wealth LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth $875,000. Finally, Beckerman Institutional LLC acquired a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at about $169,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Stock Down 0.6%

ECF stock traded down $0.07 during midday trading on Friday, reaching $11.95. 25,412 shares of the company were exchanged, compared to its average volume of 30,479. The stock’s 50-day simple moving average is $12.45 and its 200 day simple moving average is $12.44. Ellsworth Growth and Income Fund has a 1-year low of $10.70 and a 1-year high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend was Wednesday, September 16th. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc is a non-diversified, closed-end management investment company listed on the NYSE American under the symbol ECF. The fund seeks to provide investors with current income and long-term capital appreciation through a portfolio of income-producing securities.

The fund invests primarily in convertible securities, including convertible bonds and preferred stocks, as well as common stocks and other investments. Convertible securities may provide regular income while also offering the potential to participate in the capital appreciation of the underlying company’s common stock.