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 increase in short interest in October. As of October 30th, there was short interest totaling 37,653 shares, an increase of 279.9% from the October 15th total of 9,912 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 22,005 shares, the days-to-cover ratio is currently 1.7 days.

Ellsworth Growth and Income Fund Price Performance

Shares of ECF stock traded down $0.10 during trading hours on Friday, hitting $11.44. 23,201 shares of the company’s stock traded hands, compared to its average volume of 31,818. The stock’s fifty day simple moving average is $11.89 and its two-hundred day simple moving average is $12.25. Ellsworth Growth and Income Fund has a 12-month low of $10.70 and a 12-month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Monday, November 23rd will be paid a $1.01 dividend. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.22. This represents a $4.04 dividend on an annualized basis and a dividend yield of 35.3%. The ex-dividend date is Monday, November 23rd.

Insider Activity at Ellsworth Growth and Income Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 56,083 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average price of $11.74 per share, for a total transaction of $658,414.42. Following the completion of the acquisition, the insider directly owned 1,744,630 shares in the company, valued at approximately $20,481,956.20. The trade was a 3.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 217,537 shares of company stock worth $2,573,176 in the last ninety days. 0.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of large investors have recently added to or reduced their stakes in ECF. Advisors Asset Management Inc. purchased a new position in Ellsworth Growth and Income Fund in the third quarter worth about $3,777,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Ellsworth Growth and Income Fund by 19.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 285,041 shares of the investment management company’s stock valued at $3,341,000 after purchasing an additional 45,897 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at about $1,076,000. Uhlmann Price Securities LLC increased its position in shares of Ellsworth Growth and Income Fund by 3.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 76,389 shares of the investment management company’s stock valued at $895,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth approximately $875,000. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund Ltd. is a closed-end investment fund whose objective is to provide investors with current income and capital appreciation. Rather than operating a business that sells products or services, the fund pursues its objective by investing in a portfolio of securities. The fund focuses primarily on convertible securities and common stocks. Convertible securities can be exchanged for shares of the issuing company under specified conditions, while common stocks provide exposure to companies’ equity performance.