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Us | NAV & Market Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Announces Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
April 22, 2008
Cusip 289074106 |
For Information:
Gary I. Levine
(973) 631-1177 |
Ellsworth Fund Ltd. (AMEX - ECF)
today reported earnings, financial highlights and certain portfolio information for the
six months ended March 31, 2008.
| |
Three Months Ended
March 31 |
Six Months Ended
March 31 |
| Earnings Report |
2008 |
2007 |
2008 |
2007 |
| Net Income |
$1,262,000 |
$1,163,000 |
$2,432,000 |
$2,229,000 |
| Per Share |
$0.10 |
$0.09 |
$0.18 |
$0.18 |
| Shares Outstanding |
13,153,252 |
12,659,098 |
13,153,252 |
12,659,098 |
| Total Net Assets |
$112,095,000 |
$123,187,000 |
$112,095,000 |
$123,187,000 |
| Net Asset Value Per Share |
$8.52 |
$9.73 |
$8.52 |
$9.73 |
| |
|
|
| Fund Statistics |
|
Top Ten Holdings by underlying common stock |
| Market price |
|
|
$7.70 |
|
|
|
% of
Net Assets |
| Net asset value
(NAV) |
|
$8.52 |
|
Prudential Financial, Inc. |
3.4 |
| Premium/(Discount) |
|
(9.62)% |
|
Bristol-Myers
Squibb Co. |
|
2.7 |
| Total Net Assets |
|
$112,095,000 |
|
Freeport-McMoRan Copper & Gold Inc. |
2.5 |
| 12-Month income distribution |
$0.33 |
|
Chesapeake Energy Corp. |
2.4 |
| Yield on market price |
|
4.29% |
|
Companhia Vale do Rio Doce |
2.4 |
| Ratio of expenses |
|
1.10%* |
|
LSB Industries, Inc. |
2.4 |
| Ratio of
net income |
|
|
3.91%* |
|
New York
Community Bancorp, Inc. |
|
2.3 |
| Portfolio Turnover |
|
24.17% |
|
St. Jude Medical, Inc. |
2.3 |
| Shares
outstanding |
|
|
13,153,252 |
|
MetLife, Inc. |
1.9 |
| * Annualized |
|
|
|
Oil States International, Inc. |
1.9 |
| |
|
|
|
|
|
|
| |
|
|
|
Moody's Portfolio Ratings |
| Major Industry Exposure |
|
|
% of
Net Assets |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Energy |
|
|
14.0 |
|
Aa |
|
4 |
| Pharmaceuticals |
|
|
9.7 |
|
A |
|
19 |
| Insurance |
|
8.6 |
|
Baa |
|
16 |
| Semiconductors |
|
|
6.4 |
|
Ba |
|
3 |
| Telecommunications |
|
|
5.9 |
|
B |
|
22 |
| Minerals and Mining |
|
5.7 |
|
Caa |
|
4 |
| Computer Hardware |
|
|
5.5 |
|
NR |
|
30 |
|
Consumer Goods |
|
|
5.3 |
|
|
|
|
|
Banking/Savings and Loan |
|
|
4.0 |
|
|
|
|
|
Health Care |
|
|
3.7 |
|
|
|
|
| |
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of
Net
Assets |
|
|
|
|
| Convertible Bonds and Notes |
|
|
52.7 |
|
|
|
|
| Corporate
Bonds and Notes |
|
|
1.1 |
|
|
|
|
| Convertible Preferred Stock |
|
|
8.4 |
|
|
|
|
| Mandatory Convertible Securities |
|
|
24.4 |
|
|
|
|
|
Common Stock |
|
|
2.2 |
|
|
|
|
| Short-term Securities |
|
|
9.2 |
|
|
|
|
| Other Assets |
|
|
2.0 |
|
|
|
|
| |
|
|
|
|
|
|
|
Data is unaudited and as of
March 31, 2008. 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, 2007.
Detailed portfolio information is available on our website (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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