Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Buys 33,476 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. acquired 33,476 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price of $8.88 per share, with a total value of $297,266.88. Following the transaction, the insider now owns 1,478,789 shares in the company, valued at approximately $13,131,646.32. The trade was a 2.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Tuesday, April 1st, Saba Capital Management, L.P. acquired 34,285 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $9.05 per share, for a total transaction of $310,279.25.

Ellsworth Growth and Income Fund Stock Performance

NYSE:ECF traded down $0.27 on Monday, hitting $8.32. 109,400 shares of the stock were exchanged, compared to its average volume of 42,449. The company’s 50-day moving average price is $9.61 and its 200 day moving average price is $9.56. Ellsworth Growth and Income Fund Ltd. has a 52 week low of $7.55 and a 52 week high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend was Monday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Institutional investors have recently modified their holdings of the stock. Waverly Advisors LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 4th quarter valued at $430,000. K2 Principal Fund L.P. bought a new position in Ellsworth Growth and Income Fund in the fourth quarter valued at $147,000. Bulldog Investors LLP increased its position in shares of Ellsworth Growth and Income Fund by 238.2% in the fourth quarter. Bulldog Investors LLP now owns 314,426 shares of the company’s stock valued at $3,045,000 after acquiring an additional 221,447 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Ellsworth Growth and Income Fund by 179.8% during the 4th quarter. Capstone Investment Advisors LLC now owns 79,774 shares of the company’s stock worth $773,000 after purchasing an additional 51,262 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Ellsworth Growth and Income Fund by 5.5% in the fourth quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock valued at $1,545,000 after acquiring an additional 8,245 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

About Ellsworth Growth and Income Fund

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.