Ellsworth Fund Ltd. Announces Earnings and Financial Update
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| Posted
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Tue, 03 Nov 2009 21:58:58 GMT |
| Author
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Ellsworth Fund Ltd. |
| Category
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Press Release |
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MORRISTOWN, NJ -- 11/03/09 --
Ellsworth Fund Ltd. (NYSE Amex: ECF) today
reported earnings, financial highlights and certain portfolio information
for the twelve months ended September 30, 2009:
EARNINGS REPORT Three Months Ended Twelve Months Ended
September 30 September 30
2009 2008 2009 2008
------------ ------------ ------------ ------------
Net Income $1,233,000 $503,000 $4,424,000 $4,136,000
Per Share $0.09 $0.04 $0.33 $0.31
Shares Outstanding 13,277,717 13,153,252 13,277,717 13,153,252
Total Net Assets $94,973,000 $94,497,000 $94,973,000 $94,497,000
Net Asset Value
Per Share $7.15 $7.18 $7.15 $7.18
------------------ ------------ ------------ ------------ ------------
FUND STATISTICS
Market price $6.20
Net asset value (NAV) $7.15
Premium/(Discount) (13.29)%
Total Net Assets $94,973,000
12-Month income
distribution $0.318
Yield on market price 5.13%
Ratio of expenses 1.22%
Ratio of net income 5.47%
Portfolio turnover 70.67%
Shares outstanding 13,277,717
--------------------- -----------
TOP TEN HOLDINGS
by underlying common stock % of Net
Assets
Equinix 2.8
Blackboard 2.6
LSB Industries 2.5
Euronet Worldwide 2.2
Kinetic Concepts 2.1
Oil States International 2.1
Chattem 2.0
Freeport-McMoRan Copper & Gold 2.0
Intel 2.0
Mylan 2.0
------------------------------ --------
MAJOR INDUSTRY % of Net
EXPOSURE Assets
Energy 15.9
Telecommunications 15.4
Pharmaceuticals 9.6
Healthcare 8.6
Computer Software 6.3
Minerals and Mining 6.2
Financial Services 4.8
Banking/Savings and Loan 4.4
Computer Hardware 4.0
Foods 3.6
------------------------------ --------
QUALITY ALLOCATION *
(From Moody's or S&P when Moody's is
unavailable)
% of Portfolio
AA 0
A 5
BBB 10
BB 15
B 22
CCC 2
CC 1
Not Rated 45
* Excludes equity securities and cash
----------------------------------------
ASSET ALLOCATION % of Net
Assets
Convertible Bonds & Notes 69.4
Corporate Bonds & Notes 0.8
Convertible Preferred Stocks 10.1
Mandatory Convertible
Securities 7.7
Common Stocks 6.0
Cash & Equivalents 6.0
----------------------------------------
Data is unaudited and as of September 30, 2009. This selected information
should be read in conjunction with the financial statements and notes
included in the Company's Semi-Annual Report to Shareholders for the six
months ended March 31, 2009.
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 Amex 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
www.ellsworthfund.com
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