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      <liveTestFlag>LIVE</liveTestFlag>
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      <registrantFullName>Ellington Income Opportunities Fund</registrantFullName>
      <investmentCompFileNo>811-23389</investmentCompFileNo>
      <registrantCik>0001751156</registrantCik>
      <registrantLei>549300AZITG6Y38UKP98</registrantLei>
      <registrantstreet1>8500 Normandale Lake Blvd</registrantstreet1>
      <registrantstreet2>Suite 1900</registrantstreet2>
      <registrantcity>Minneapolis</registrantcity>
      <registrantzipCode>55437</registrantzipCode>
      <registrantstate>US-MN</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>8558975390</registrantphoneNumber>
      <websites>
        <website webpage="N/A"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>U.S. Bancorp Fund Services LLC</officeName>
          <officeAddress1>615 East Michigan Street</officeAddress1>
          <officeCity>Milwaukee</officeCity>
          <officeStateCountry officeState="US-WI" officeCountry="US"/>
          <officeRecordsZipCode>53202</officeRecordsZipCode>
          <officePhone>18336121912</officePhone>
          <booksRecordsDesc>All applicable accounts books and documents required to be maintained by the Fund by Section 31(a) of the 1940 Act and the Rules promulgated thereunder are in the possession and custody of the Fund c/o U.S. Bank National Association</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
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          <directorName>William Piechel</directorName>
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        <director>
          <directorName>Lawrence E. Penn</directorName>
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          <directorName>John L. Sabre</directorName>
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        <director>
          <directorName>Richard P. Imperiale</directorName>
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        <director>
          <directorName>Jeffrey P. Greiner</directorName>
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      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Emile R. Molineaux</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>8500 Normandale Lake Blvd</ccoStreet1>
          <ccoStreet2>Suite 1900</ccoStreet2>
          <ccoCity>Minneapolis</ccoCity>
          <ccoStateCountry ccoState="US-MN" ccoCountry="US"/>
          <ccoZipCode>55437</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="Northern Lights Compliance Services LLC" ccoEmployerId="N/A"/>
            <ccoEmployer ccoEmployerName="Ultimus Fund Solutions, LLC" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-33897"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Foreside Funds Distributors LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-32480</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000031334</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderwriterRssdId>N/A</principalUnderwriterRssdId>
          <principalUnderWriterStateCountry principalUnderWriterState="US-PA" principalUnderWriterCountry="US"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>N</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>RSM US LLP</publicAccountantName>
          <pcaobNumber>00049</pcaobNumber>
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          <publicAccountantRssdId>N/A</publicAccountantRssdId>
          <publicAccountantStateCountry publicAccountantState="US-CO" publicAccountantCountry="US"/>
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      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
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        <mgmtInvFundName>Ellington Income Opportunities Fund</mgmtInvFundName>
        <mgmtInvLei>549300AZITG6Y38UKP98</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <fundTypes>
          <fundType>Interval Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(d)(i) (17 CFR 270.18f-4(d)(i))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Princeton Fund Advisers, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-72525</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000157821</investmentAdviserCrdNo>
            <investmentAdviserLei>549300JS5USF6515HM18</investmentAdviserLei>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>Ellington Global Asset Management, LLC</subAdviserName>
            <subAdviserFileNo>801-67147</subAdviserFileNo>
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            <subAdviserLei>549300JEQZ8UWFFYP055</subAdviserLei>
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            <isSubAdviserHired>N</isSubAdviserHired>
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          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services LLC</transferAgentName>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
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          <pricingService>
            <pricingServiceName>U.S. Bancorp Fund Services LLC</pricingServiceName>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
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            <adminName>U.S. Bancorp Fund Services LLC</adminName>
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            <isAdminSubAdmin>N</isAdminSubAdmin>
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        <aggregateCommission>0.000000000000</aggregateCommission>
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          <principalTransaction>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
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          <description>Common stock</description>
          <securityClassTitle>Class A Shares</securityClassTitle>
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      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
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      <netOperatingExpenses>3.260000000000</netOperatingExpenses>
      <marketPricePerShare>N/A</marketPricePerShare>
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    <exchangeSeriesInfo/>
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      <isIPAReportInternalControl>true</isIPAReportInternalControl>
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    <signature registrantSignedName="Ellington Income Opportunities Fund" signedDate="2026-03-31" signature="/s/ Michael Sabre" title="Chief Compliance Officer and Chief Operating Officer"/>
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