Saba Capital Management, L.P. Purchases 6,800 Shares of Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 6,800 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $12.36 per share, with a total value of $84,048.00. Following the acquisition, the insider owned 1,628,462 shares in the company, valued at $20,127,790.32. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 3rd, Saba Capital Management, L.P. acquired 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $61,250.00.
• On Friday, August 28th, Saba Capital Management, L.P. acquired 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.47 per share, for a total transaction of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. acquired 3,900 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.49 per share, with a total value of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $12.53 per share, with a total value of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. bought 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Trading Up 0.8%

Shares of ECF opened at $12.57 on Thursday. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $10.70 and a 52-week high of $13.85. The business’s fifty day moving average is $12.54 and its 200-day moving average is $12.40.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 7.0%. This is a boost 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. K2 Principal Fund L.P. lifted its holdings in shares of Ellsworth Growth and Income Fund by 3.5% in the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock worth $286,000 after acquiring an additional 834 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Ellsworth Growth and Income Fund by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company’s stock valued at $934,000 after purchasing an additional 996 shares during the last quarter. Uhlmann Price Securities LLC grew its holdings in shares of Ellsworth Growth and Income Fund by 1.5% during the 1st quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company’s stock valued at $766,000 after purchasing an additional 1,000 shares during the last quarter. Waverly Advisors LLC increased its position in Ellsworth Growth and Income Fund by 3.2% during the 1st quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company’s stock worth $474,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company’s stock valued at $1,488,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.