Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock Crosses Above 50 Day Moving Average – What’s Next?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $12.72 and traded as high as $13.33. Ellsworth Growth and Income Fund shares last traded at $12.98, with a volume of 22,668 shares changing hands.

Ellsworth Growth and Income Fund Trading Down 2.3%

The company’s fifty day simple moving average is $12.72 and its 200 day simple moving average is $12.14.

Ellsworth Growth and Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 5.9%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. lifted its holdings in Ellsworth Growth and Income Fund by 2.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after purchasing an additional 45,368 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Ellsworth Growth and Income Fund by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company’s stock valued at $11,007,000 after purchasing an additional 30,142 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Ellsworth Growth and Income Fund by 4.9% during the fourth quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock valued at $10,846,000 after purchasing an additional 43,839 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Ellsworth Growth and Income Fund by 72.9% during the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock valued at $4,581,000 after purchasing an additional 166,043 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in Ellsworth Growth and Income Fund by 42.0% during the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares during 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 (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.