Ellsworth Fund Limited : First quarter earnings and financial update reported Jan 23, 2014
January 23, 2014 at 02:55 pm
By
Share
Ellsworth Fund Ltd. Announces Earnings and Financial Update
MORRISTOWN, NJ--(Marketwired - Jan 23, 2014) - Ellsworth Fund Ltd. (NYSE MKT: ECF) today reported earnings, financial highlights and certain portfolio information for the three months ended December 31, 2013:
EARNINGS REPORT
Three Months Ended
December 31
2013
2012
Net Income
$468,000
$750,000
Per Share
$0.03
$0.06
Shares Outstanding
13,373,947
13,507,882
Total Net Assets
$131,706,000
$113,939,000
Net Asset Value Per Share
$9.85
$8.44
FUND STATISTICS
Market price
$8.19
Net asset value (NAV)
$9.85
Premium/(Discount)
(16.85)%
Total Net Assets
$131,706,000
12-Month income distribution
$0.243
Yield on market price
2.97%
Ratio of expenses (annualized)
1.01%
Ratio of net income (annualized)
1.39%
Portfolio turnover
14.14%
Shares outstanding
13,373,947
TOP TEN HOLDINGS
by underlying common stock
% of Net Assets
Gilead Sciences, Inc.
4.4
United Technologies Corp.
2.0
AT&T Inc.
1.9
Iconix Brand Group, Inc.
1.8
Priceline.com Inc.
1.8
Wells Fargo & Co.
1.7
NextEra Energy, Inc.
1.6
Nuance Communications, Inc.
1.6
Intel Corp.
1.5
ConocoPhillips
1.4
Sector Weightings
% of Net Assets
Consumer Discretionary
9.3
Consumer Staples
3.0
Energy
6.7
Financials
19.1
Health Care
17.3
Industrials
8.2
Information Technology
23.3
Materials
3.2
Telecommunication Services
6.5
Utilities
2.6
ASSET ALLOCATION
% of Net Assets
Convertible Bonds & Notes
63.5
Convertible Preferred Stock
12.4
Mandatory Convertible Securities
7.9
Common Stock
15.4
Cash & Equivalents
0.8
Data is unaudited and as of December 31, 2013. This selected information should be read in conjunction with the financial statements and notes included in the Company's Annual Report to Shareholders for the twelve months ended September 30, 2013.
Detailed portfolio information is available on our website (www.ellsworthfund.com).
Contact us by email at info@ellsworthfund.comor call us at (973) 631-1177.
Ellsworth Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.
Its shares are traded on the NYSE MKT LLC under the ticker symbol ECF.
Cusip 289074106
For further information please contact:
Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Fax (973) 631-9893
Ellsworth Growth and Income Fund Ltd. is a diversified closed-end, diversified management investment company. The Fundâs primary investment objective is to provide income and the potential for capital appreciation, which objectives the Fund considers to be relatively equal over the long term due to the nature of the securities in which it invests. The Fund invests primarily in convertible and equity securities. The Fund's portfolio includes sectors, such as healthcare, financial services, computer software and services, energy and utilities, real estate investment trusts, semiconductors, telecommunications, business services, diversified industrial, food and beverage, communications equipment, consumer products, transportation, consumer services, cable and satellite, computer hardware, automotive, wireless communications, agriculture and entertainment. Gabelli Funds, LLC is the investment advisor of the Fund.
ELLSWORTH GROWTH AND INCOME FUND LTD. 
By 
