Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Sells 26,218 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 26,218 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $11.95, for a total value of $313,305.10. Following the completion of the sale, the insider directly owned 1,646,578 shares in the company, valued at approximately $19,676,607.10. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, February 5th, Saba Capital Management, L.P. sold 7,824 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.02, for a total value of $94,044.48.

Ellsworth Growth and Income Fund Stock Performance

NYSE:ECF traded up $0.25 during trading hours on Monday, hitting $12.05. The company’s stock had a trading volume of 43,330 shares, compared to its average volume of 43,201. The stock has a fifty day simple moving average of $12.02 and a 200-day simple moving average of $11.67. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $8.15 and a twelve month high of $12.65.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, November 24th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date was Monday, November 24th. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECF. Osaic Holdings Inc. boosted its position in Ellsworth Growth and Income Fund by 11.1% in the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock valued at $157,000 after buying an additional 1,535 shares in the last quarter. PMG Family Office LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the 3rd quarter valued at $212,000. Uhlmann Price Securities LLC grew its position in Ellsworth Growth and Income Fund by 10.3% during the 2nd 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 last quarter. NewEdge Advisors LLC grew its position in Ellsworth Growth and Income Fund by 44.8% during the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the company’s stock worth $773,000 after acquiring an additional 23,340 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Ellsworth Growth and Income Fund by 1.3% in the third quarter. Raymond James Financial Inc. now owns 80,538 shares of the company’s stock valued at $934,000 after purchasing an additional 996 shares during the last quarter. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company 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.