SOURCE: Ellsworth Fund Ltd.

February 05, 2013 13:38 ET

Ellsworth Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwire - Feb 5, 2013) - Ellsworth Fund Ltd. (NYSE MKT: ECF) today reported earnings, financial highlights and certain portfolio information for the three months ended December 31, 2012:            

     
EARNINGS REPORT Twelve Months Ended
  December 31
     
  2012 2011
     
Net Income $749,855 $990,000
  Per Share $0.06 $0.07
Shares Outstanding 13,507,882 13,453,777
Total Net Assets $113,939,000 $104,557,000
Net Asset Value Per Share $8.44 $7.77
FUND STATISTICS    
     
Market price $7.14  
Net asset value (NAV) $8.44  
Premium/(Discount) (15.35)%  
Total Net Assets $113,939,000  
12-Month income    
  distribution $0.2625  
Yield on market price 3.68%  
Ratio of expenses (annualized) 1.14%  
Ratio of net income (annualized) 2.58%  
Portfolio turnover 13.96%  
Shares outstanding 13,507,882  
TOP TEN HOLDINGS % of Net  
  by underlying common stock Assets  
     
Gilead Sciences 2.6%  
Verizon Communications 2.3%  
Wells Fargo 2.2%  
AT&T 2.1%  
EMC 2.0%  
United Technologies 2.0%  
Nuance Communications 1.7%  
Bank of America 1.6%  
Chesapeake Energy 1.6%  
General Motors 1.5%  
MAJOR INDUSTRY % of Net  
  EXPOSURE Assets  
     
Software 8.0%  
Semiconductors & Semiconductor Equipment 7.9%  
Pharmaceuticals 6.2%  
Oil, Gas & Consumable Fuels 5.3%  
Metals & Mining 5.0%  
Diversified Telecommunication Services 4.9%  
Commercial Banks 4.7%  
Insurance 4.4%  
Biotechnology 4.0%  
Real Estate Investment Trusts 3.1%  
ASSET ALLOCATION % of Net  
  Assets  
     
Convertible Bonds & Notes 59.8  
Convertible Preferred Stock 12.9  
Mandatory Convertible    
  Securities 10.3  
Preferred Stock 0.4  
Common Stock 13.5  
Cash & Equivalents 3.1  
     

Data is unaudited and as of December 31, 2012. 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, 2012.   

Detailed portfolio information is available on our website (www.ellsworthfund.com). Contact us by email at info@ellsworthfund.com or 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         

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