SOURCE: Ellsworth Fund Ltd.

January 22, 2015 17:00 ET

Ellsworth Growth and Income Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwired - Jan 22, 2015) - Ellsworth Growth and Income Fund Ltd. (NYSE MKT: ECF) today reported earnings, financial highlights and certain portfolio information for the three months ended December 31, 2014:

     
EARNINGS REPORT   Three Months Ended
    December 31
         
    2014   2013
         
Net Income   $393,000   $468,000
  Per Share   $0.03   $0.03
Shares Outstanding   13,293,830   13,373,947
Total Net Assets   $135,526,000   $131,706,000
Net Asset Value Per Share   $10.19   $9.85
         
         
FUND STATISTICS        
         
Market price   $8.71    
Net asset value (NAV)   $10.19    
Premium/(Discount)   (14.52 )%  
Total Net Assets   $135,526,000    
12-Month income        
  distribution   $0.218    
Yield on market price   2.50 %  
Ratio of expenses (annualized)   1.05 %  
Ratio of net income (annualized)   1.13 %  
Portfolio turnover   8.45 %  
Shares outstanding   13,293,830    
         
         
TOP TEN HOLDINGS        
  by underlying common stock        
    % of Net Assets    
Gilead Sciences, Inc.   2.1    
Hawaiian Holdings, Inc.   1.8    
United Technologies Corp.   1.8    
AT&T Inc.   1.7    
Micron Technology, Inc.   1.7    
Equinix, Inc.   1.6    
Mylan Inc.   1.6    
EMC Corp.   1.5    
The Priceline Group Inc.   1.5    
ConocoPhillips   1.4    
         
         
Sector Weightings        
    % of Net Assets    
Consumer Discretionary   8.3    
Consumer Staples   5.4    
Energy   5.7    
Financials   19.0    
Health Care   17.8    
Industrials   8.1    
Information Technology   23.9    
Materials   1.7    
Telecommunication Services   7.0    
Utilities   2.4    
         
         
ASSET ALLOCATION        
    % of Net Assets    
Convertible Bonds & Notes   49.6    
Common Stock   31.0    
Mandatory Convertible Securities   10.4    
Convertible Preferred Stock   8.3    
Cash & Equivalents   0.7    
         
         

Data is unaudited and as of December 31, 2014. 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, 2014. 

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 Growth and Income Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible and equity 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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