Wealth Enhancement Advisory Services LLC Sells 55,464 Shares of Ellsworth Growth and Income Fund Ltd. $ECF

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) by 41.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,042 shares of the company’s stock after selling 55,464 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ellsworth Growth and Income Fund were worth $932,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in Ellsworth Growth and Income Fund by 11.1% during the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock valued at $157,000 after acquiring an additional 1,535 shares during the period. Uhlmann Price Securities LLC increased its position in Ellsworth Growth and Income Fund by 10.3% during the second quarter. Uhlmann Price Securities LLC now owns 66,680 shares of the company’s stock worth $683,000 after acquiring an additional 6,202 shares during the period. NewEdge Advisors LLC grew its position in Ellsworth Growth and Income Fund by 44.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the company’s stock worth $773,000 after purchasing an additional 23,340 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of Ellsworth Growth and Income Fund by 190.0% during the second quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after buying an additional 89,456 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in Ellsworth Growth and Income Fund by 1.0% during the second quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,475 shares during the period. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Stock Performance

ECF opened at $12.47 on Tuesday. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $8.15 and a 1 year high of $12.65. The stock’s 50 day simple moving average is $11.97 and its 200-day simple moving average is $11.63.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, November 24th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 13.2%. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, November 24th.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. acquired 33,764 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $12.15 per share, with a total value of $410,232.60. Following the completion of the acquisition, the insider owned 1,680,620 shares of the company’s stock, valued at $20,419,533. This trade represents a 2.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Ellsworth Growth and Income Fund Profile

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.