Evolve Private Wealth LLC Invests $875,000 in Ellsworth Growth and Income Fund Ltd. $ECF

Evolve Private Wealth LLC bought a new position in shares of Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 66,203 shares of the investment management company’s stock, valued at approximately $875,000.

Several other hedge funds have also recently bought and sold shares of ECF. Advisors Asset Management Inc. grew its stake in Ellsworth Growth and Income Fund by 72.9% during the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after buying an additional 166,043 shares during the period. Pathstone Holdings LLC raised its stake in shares of Ellsworth Growth and Income Fund by 42.0% in the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after acquiring an additional 115,441 shares during the period. Saba Capital Management L.P. raised its stake in shares of Ellsworth Growth and Income Fund by 2.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after acquiring an additional 45,368 shares during the period. Sit Investment Associates Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 4.9% during the 4th 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 in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ellsworth Growth and Income Fund by 31.2% during the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the investment management company’s stock valued at $1,651,000 after acquiring an additional 38,271 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Price Performance

Shares of Ellsworth Growth and Income Fund stock opened at $12.52 on Monday. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85. The company has a fifty day moving average price of $12.74 and a 200 day moving average price of $12.38.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.22 per share. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Wednesday, September 16th.

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.