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GAMCO Investors reported a second quarter net income of $17.3 million for 2022, up slightly from $17.1 million in 2021. GAAP earnings increased to $0.66 per share, compared to $0.64 per share last year. However, assets under management (AUM) decreased to $28.7 billion from $34.6 billion year-over-year. Revenues fell to $65.6 million from $75.6 million, driven by lower investment advisory fees. Operating income rose to $28.3 million, aided by a $7.9 million waiver of CEO compensation. GAMCO maintained a strong balance sheet with $177.3 million in cash and investments.
The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) has announced the issuance of Series B Cumulative Preferred Shares with a total liquidation value of approximately
The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) has declared a cash distribution of
Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) has declared a cash distribution of $0.13 per share, payable on March 24, 2021, to shareholders of record on March 17, 2021. This follows a total distribution of $1.33 per share in 2020, exceeding 5% of the Fund’s average market price of $0.57. The Fund aims for annual distributions of at least 5% of its trailing 12-month average price, subject to Board review and may include capital gains. Shareholders should note that portions of distributions may be treated as capital gains or return of capital.
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