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Us | NAV & Stock Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Announces Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
October 25, 2007
Cusip 289074106 |
For Information:
Joshua P. Lake
(973) 631-1177 |
Ellsworth Fund Ltd. (AMEX - ECF)
today reported financial highlights and certain portfolio information for the twelve months ended September 30, 2007.
| |
Three Months Ended
September 30 |
Twelve Months Ended
September 30 |
| Earnings Report |
2007 |
2006 |
2007 |
2006 |
| Net Income |
$858,000 |
$1,057,000 |
$4,205,000 |
$4,129,000 |
| Per Share |
$0.07 |
$0.09 |
$0.33 |
$0.33 |
| Shares Outstanding |
12,659,098 |
12,429,083 |
12,659,098 |
12,429,083 |
| Total Net Assets |
$129,952,000 |
$119,264,000 |
$129,952,000 |
$119,264,000 |
| Net Asset Value Per Share |
$10.27 |
$9.60 |
$10.27 |
$9.60 |
| Fund
Statistics as of September 30, 2007 |
|
Top Ten Holdings by underlying common stock as of September 30, 2007 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$9.09 |
|
|
|
Net Assets |
| Net asset value
(NAV) |
|
$10.27 |
|
Freeport-McMoRan Copper & Gold Inc. |
2.7 |
| Premium/(Discount) |
|
(11.49)% |
|
LSB Industries, Inc. |
|
2.5 |
| Total Net Assets |
|
$129,952,000 |
|
Prudntial Financial, Inc. |
|
2.4 |
| 12-Month income distribution |
$0.39 |
|
Bristol-Myers Squibb Co. |
2.3 |
| Yield on market price |
|
4.29% |
|
LSI
Corp. |
2.3 |
| Ratio of expenses |
|
1.10% |
|
The Walt Disney
Company |
2.3 |
| Ratio of
net income |
|
|
3.39% |
|
Nabors Industries Ltd. |
|
2.2 |
| Portfolio Turnover |
|
84.27% |
|
Companhia Vale do Rio Doce |
2.1 |
| Shares
outstanding |
|
|
12,659,098 |
|
MetLife, Inc. |
2.1 |
|
|
|
|
New York Community Bancorp, Inc. |
2.1 |
| Major Industry Exposure |
|
% of |
|
|
|
|
| as of September 30, 2007 |
|
|
Net Assets |
|
Portfolio Ratings from Moody's |
|
|
| Energy |
|
|
14.5 |
|
as of September 30, 2007 |
|
|
| Insurance |
|
|
9.3 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Pharmaceuticals |
|
9.3 |
|
Aa |
|
8 |
| Semiconductors |
|
|
7.0 |
|
A |
|
19 |
| Banking/Savings and Loan |
|
|
6.0 |
|
Baa |
|
16 |
| Minerals and Mining |
|
5.6 |
|
Ba |
|
7 |
| Computer Hardware |
|
|
5.2 |
|
B |
|
19 |
| Telecommunications |
|
|
4.8 |
|
Caa |
|
1 |
| Health Care |
|
|
4.4 |
|
NR |
|
30 |
| Aerospace and Defense |
|
|
4.0 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of |
|
|
|
|
| as of September 30, 2007 |
|
|
Net
Assets |
|
|
|
|
| Convertible Bonds and Notes |
|
|
59.1 |
|
|
|
|
| Corporate
Bonds and Notes |
|
|
1.1 |
|
|
|
|
| Convertible Preferred Stock |
|
|
8.9 |
|
|
|
|
| Mandatory Convertible Securities |
|
|
27.7 |
|
|
|
|
| Short-term Securities |
|
|
2.5 |
|
|
|
|
| Other Assets |
|
|
0.7 |
|
|
|
|
Data is unaudited and as of September 30, 2007. 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, 2006.
Detailed portfolio information is available on our website (http://www.ellsworthfund.com). Contact us by
e-mail 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 American Stock Exchange under the ticker
symbol ECF.
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