ECF News and Press, Ellsworth Growth and Income Fund Ltd. From 05/15/23

2023-05-15 02:49:26 ET Summary CHY is invested mostly in convertibles but also incorporates a meaningful amount to high-yield bonds, with smaller allocations in other instruments. The fund was trading at quite an extended premium earlier in the year, but that bubble has since popp...

2023-04-23 00:38:51 ET Summary ACV splits its portfolio primarily between convertible and equity exposure but also carries some exposure to high-yield bonds. The sector allocation is tilted toward tech, meaning the fund struggled through most of the last year when growth was weak....

2023-04-22 00:32:54 ET Summary CHI's premium has come down recently, but it still isn't at a point where I'd be looking to buy. The fund's distribution remains elevated, and despite that, Calamos has chosen not to cut the distribution. A distribution cut, if it happens, could ...

2023-04-13 13:21:52 ET Summary In 2022, we highlighted how ECF was "a clear choice" over GCV. This has been playing out, and it could have more to go. However, with GCV's higher distribution yield, it could support its current valuation better. Written by Nick Acke...

2023-03-21 10:23:55 ET Summary Three out of 22 CEF sectors positive on price and 5 out of 22 sectors positive on NAV last week. Delaware/Abrdn mergers are closed. New: adding tables of highest yielding, cheapest and most expensive funds from our screener to the Weekly Roundup....

Summary NCV and NCZ have seen their discounts narrow from the wide discount we saw several months ago. NCZ presents a potentially better opportunity with a larger discount compared to NCV. Both of these funds carry some elevated leverage levels, but the recovery in the broader marke...

Summary ECF is a convertibles-focused CEF. It pays a 5.9% forward distribution yield that appears well covered by historical fund returns. ECF appears conservatively managed with significantly lower volatility than peers. However, it can lose just as much when the convertibles asset...

Summary We have now closed on the first month of the new year, but my strategy of buying every month hasn't changed. The new year has started off with a bang, with the broader indexes jumping higher. However, there are still significant headwinds to consider through 2023 with a shif...

Summary We last looked at AVK around 8 months ago when a reader asked my thoughts. Since then, the fund's discount has opened up a bit further, but it still isn't appealing. The high distribution is attractive but is at risk for cuts similar to peers unless the rebound continues in ...

Summary CHY has had a tough time being highly leveraged and growth investments being out of favor. The fund relies heavily on capital gains to fund the distribution, and that could be a catalyst for a premium drop if it's adjusted lower. There are some alternatives that one could co...