Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Buys 27,937 Shares of Company Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 27,937 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were acquired at an average price of $11.95 per share, with a total value of $333,847.15. Following the transaction, the insider owned 1,673,947 shares of the company’s stock, valued at $20,003,666.65. The trade was a 1.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% 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 Wednesday, October 7th, Saba Capital Management, L.P. purchased 17,548 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $11.97 per share, for a total transaction of $210,049.56.
• On Friday, September 4th, Saba Capital Management, L.P. purchased 6,800 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $84,048.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. purchased 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.25 per share, for a total transaction of $61,250.00.
• On Friday, August 28th, Saba Capital Management, L.P. purchased 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price 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 acquired at an average cost of $12.49 per share, with a total value of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.53 per share, with a total value of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. acquired 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Trading Down 0.9%

Shares of Ellsworth Growth and Income Fund stock traded down $0.11 during trading on Tuesday, hitting $11.94. 15,719 shares of the company were exchanged, compared to its average volume of 32,259. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85. The firm has a 50 day moving average price of $12.34 and a 200 day moving average price of $12.48.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 7.4%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its stake in shares of Ellsworth Growth and Income Fund by 4.9% during the fourth quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock valued at $10,846,000 after acquiring an additional 43,839 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth about $1,076,000. Evolve Private Wealth LLC purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth about $875,000. Uhlmann Price Securities LLC raised its stake in Ellsworth Growth and Income Fund by 1.5% in 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. Finally, Royal Bank of Canada raised its stake in Ellsworth Growth and Income Fund by 16.8% in the 1st quarter. Royal Bank of Canada now owns 55,309 shares of the investment management company’s stock valued at $617,000 after purchasing an additional 7,955 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund, Inc is a closed-end management investment company listed on the NYSE American under the symbol ECF. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities.

The fund invests primarily in convertible securities, including convertible bonds and preferred stocks, as well as common stocks and other income-producing investments. Convertible securities may provide regular income while also offering the potential to participate in the appreciation of the underlying companies’ common shares.