Ellsworth Fund Ltd. Announces Earnings and Financial Update MORRISTOWN, NJ--(Marketwire - 11/03/09) - Ellsworth Fund Ltd. (AMEX:ECF - News) 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
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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
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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
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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
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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
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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 Contact:
Source: Ellsworth Fund Ltd.
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