Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 2,600 Shares of Company Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were bought at an average price of $11.58 per share, for a total transaction of $30,108.00. Following the completion of the purchase, the insider owned 1,792,455 shares of the company’s stock, valued at approximately $20,756,628.90. This represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Tuesday, October 20th, Saba Capital Management, L.P. acquired 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.39 per share, with a total value of $20,843.70.
• On Monday, October 19th, Saba Capital Management, L.P. bought 17,079 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.47 per share, with a total value of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. bought 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.65 per share, for a total transaction of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. bought 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.62 per share, for a total transaction of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. purchased 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.74 per share, for a total transaction of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. purchased 14,600 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.03 per share, for a total transaction of $175,638.00.
• On Thursday, October 8th, Saba Capital Management, L.P. purchased 27,937 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.95 per share, with a total value of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. purchased 17,548 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.97 per share, with a total value of $210,049.56.
• On Friday, September 4th, Saba Capital Management, L.P. acquired 6,800 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.36 per share, with a total value of $84,048.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. acquired 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.25 per share, with a total value of $61,250.00.

Ellsworth Growth and Income Fund Trading Down 3.1%

NYSEAMERICAN ECF opened at $11.44 on Friday. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $10.70 and a 12 month high of $13.85. The company’s 50 day simple moving average is $12.17 and its 200 day simple moving average is $12.51.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 7.7%. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, September 16th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several hedge funds have recently modified their holdings of ECF. Capstone Investment Advisors LLC bought a new stake in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth $1,076,000. Evolve Private Wealth LLC acquired a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at $875,000. K2 Principal Fund L.P. acquired a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at $325,000. Ruggaard & Associates LLC acquired a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at $248,000. Finally, Beckerman Institutional LLC bought a new position in Ellsworth Growth and Income Fund during the second quarter valued at about $169,000. 35.88% of the stock is currently 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.