Ellsworth Growth and Income Fund Ltd. operates as a closed-end, diversified management investment company. The Fund's investment objective is to provide 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. The Fund invests primarily in convertible and in equity securities, and common stock. The Fund's portfolio includes sectors, such as healthcare, financial services, computer software and services, energy and utilities, real estate investment trusts, semiconductors, telecommunications, business services, diversified industrial, food and beverage, communications equipment, consumer products, transportation, consumer services, cable and satellite, computer hardware, automotive, wireless communications, agriculture and entertainment. Gabelli Funds, LLC is the investment advisor of the Fund.