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BUY ECFPRA. 5.5%

September 20. 2017

UPDATE:  Looks like we missed this one.  It jumped up very fast right out of the gate this morning.)

Nothing is going to happen in the markets today until the old Gray Haired lady makes her Fed announcement.  But we are trying to buy a SMALL position in this new issue preferred……the price jumped right out of the box now at $25,15.  Do NOT pay much more than $25.10 for this new issue.  (It is possible the price will come back down to a price we will want.)

ECFPRA

The Ellsworth Growth and Income Fund (NYSE:ECF) is a closed-end fund that is part of the Gabelli fund family. The fund dates back to 1986 and the total returns since inception have been 8.3%.

Total assets in ECF are around $130 million, which makes this a small closed-end fund (CEF). As you may recall, closed-end funds must maintain an asset coverage ratio of 200% on senior securities, which include preferred stock.
This is an added level of safety for holders of the preferreds.

In the case of Ellsworth Growth and Income, it has assets of $160 million after this offering and there is no debt and there are no other issues of preferred stock. As a result, there will be an asset coverage ratio of more than 500% to provide investors with extreme safety. Additionally, this new issue is rated a very solid investment grade by Moody’s with an A1 rating.

FULL ARTICLE

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Urge your legislator to pass meaningful tax cuts for small businesses and the country’s hardworking taxpayers.

http://www.taxcutsnow.com

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Hillary we are begging you:  go away.

Still unwilling to take any responsibility for her loss to Donald Trump, Hillary continues to play the blame game.  So far, she’s blamed everyone from her most trusted advisor, Huma Abedin, to the infamous socialist and fellow democrat Bernie Sanders, for the disastrous campaign and ridiculous ideas she championed last year. But she doesn’t stop there anymore. Now it’s the fault of married women who voted for Donald Trump.

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