Insider Buying: Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $19,368.44 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 1,547 shares of the stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $12.52 per share, for a total transaction of $19,368.44. Following the transaction, the insider owned 1,605,820 shares of the company’s stock, valued at approximately $20,104,866.40. This trade represents a 0.10% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $12.53 per share, with a total value of $71,947.26.

Ellsworth Growth and Income Fund Price Performance

Ellsworth Growth and Income Fund stock opened at $12.47 on Thursday. The firm has a 50 day moving average price of $12.70 and a 200-day moving average price of $12.38. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 7.1%. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

Several hedge funds have recently made changes to their positions in ECF. Global Retirement Partners LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at $28,000. Gilpin Wealth Management LLC bought a new stake in Ellsworth Growth and Income Fund in the 4th quarter valued at about $47,000. Readystate Asset Management LP bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at about $154,000. Osaic Holdings Inc. lifted 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 investment management company’s stock valued at $157,000 after purchasing an additional 1,535 shares during the last quarter. Finally, Beckerman Institutional LLC bought a new position in Ellsworth Growth and Income Fund during the second quarter worth about $169,000. 35.88% of the stock is currently owned by institutional investors.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.

ECF’s investment strategy emphasizes a disciplined, research-driven approach.