Insider Buying: Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Acquires $310,279.25 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. bought 34,285 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was bought at an average cost of $9.05 per share, with a total value of $310,279.25. Following the completion of the acquisition, the insider now owns 1,438,272 shares in the company, valued at $13,016,361.60. This represents a 2.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ellsworth Growth and Income Fund Stock Down 3.4 %

Shares of ECF stock opened at $8.59 on Friday. The stock’s fifty day simple moving average is $9.61 and its 200 day simple moving average is $9.55. Ellsworth Growth and Income Fund Ltd. has a one year low of $7.55 and a one year high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its position in Ellsworth Growth and Income Fund by 7.3% in the fourth quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock valued at $698,000 after buying an additional 4,715 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Ellsworth Growth and Income Fund by 5.5% in the 4th quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock worth $1,545,000 after acquiring an additional 8,245 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its position in Ellsworth Growth and Income Fund by 8.3% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company’s stock worth $1,340,000 after acquiring an additional 10,574 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in Ellsworth Growth and Income Fund during the 4th quarter valued at $147,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Ellsworth Growth and Income Fund in the 3rd quarter valued at $288,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.