Ellsworth Fund Ltd. Begins Share Repurchase Program
(firmenpresse) - MORRISTOWN, NJ -- (Marketwired) -- 10/29/13 -- Ellsworth Fund Ltd. (NYSE MKT: ECF) announced today that, in accordance with the share repurchase program recently adopted by its Board of Trustees, the Fund has begun making open market purchases of its shares. These purchases have been made in accordance with the limitations of Rule 10b-18 promulgated under the Securities Exchange Act of 1934. As previously announced, the Fund recently adopted a plan to repurchase up to 3% of the Fund's outstanding shares (up to approximately 405,000 shares). The Board of Trustees authorized the program in an effort to address the undervaluation of the Fund's shares. The extent to which the Fund repurchases its shares and the timing of such repurchases will depend on market conditions and other considerations as determined by the Fund's management team, and in accordance with the limitations of Rule 10b-18. The Fund is also allowed to purchase shares in privately negotiated transactions.
The Fund will disclose the details of its repurchase activity in future shareholder reports.
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 MKT exchange under the ticker symbol ECF.
CUSIP# 289 074 106
For further information, please contact:
Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.10.2013 - 13:17 Uhr
Sprache: Deutsch
News-ID 310348
Anzahl Zeichen: 0
contact information:
Town:
MORRISTOWN, NJ
Kategorie:
Insurance
Diese Pressemitteilung wurde bisher 202 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ellsworth Fund Ltd. Begins Share Repurchase Program"
steht unter der journalistisch-redaktionellen Verantwortung von
Ellsworth Fund Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
