Ellsworth Growth and Income Fund (NYSE:ECF) Trading Up 0.7% Following Dividend Announcement

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) shot up 0.7% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $10.08 and last traded at $10.04. 24,440 shares changed hands 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. Investors of record on Monday, March 17th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Monday, March 17th.

Ellsworth Growth and Income Fund Stock Up 0.7 %

The company’s fifty day moving average is $9.84 and its 200-day moving average is $9.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ECF. Beckerman Institutional LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the 3rd quarter valued at $114,000. Sanctuary Advisors LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at about $122,000. Wolverine Asset Management LLC grew its holdings in Ellsworth Growth and Income Fund by 16.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 14,442 shares of the company’s stock valued at $130,000 after purchasing an additional 2,036 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Ellsworth Growth and Income Fund in the 3rd quarter worth about $256,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Ellsworth Growth and Income Fund in the 3rd quarter worth about $288,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.