Ellsworth Growth and Income Fund (NYSE:ECF) Shares Up 0.7% After Dividend Announcement

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)’s stock price shot up 0.7% during trading on Friday after the company announced a dividend. The company traded as high as $10.08 and last traded at $10.04. 24,440 shares were traded during mid-day trading, a decline of 13% from the average session volume of 28,188 shares. The stock had previously closed at $9.97.

The newly announced dividend which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, March 17th.

Ellsworth Growth and Income Fund Stock Performance

The business has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.34.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in Ellsworth Growth and Income Fund by 5.5% in the 4th quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock valued at $1,545,000 after purchasing an additional 8,245 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Ellsworth Growth and Income Fund in the 4th quarter valued at approximately $881,000. Sit Investment Associates Inc. increased its stake in Ellsworth Growth and Income Fund by 161.5% in the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company’s stock valued at $3,084,000 after purchasing an additional 196,567 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Ellsworth Growth and Income Fund by 61.4% in the 4th quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company’s stock valued at $3,575,000 after purchasing an additional 140,392 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its stake in Ellsworth Growth and Income Fund by 8.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company’s stock valued at $1,340,000 after purchasing an additional 10,574 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.