Insider Buying: Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Acquires 1,547 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 1,547 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $12.52 per share, for a total transaction of $19,368.44. Following the purchase, the insider directly owned 1,605,820 shares of the company’s stock, valued at approximately $20,104,866.40. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% 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 Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $12.53 per share, with a total value of $71,947.26.

Ellsworth Growth and Income Fund Stock Down 0.8%

Shares of ECF stock traded down $0.10 during trading on Monday, reaching $12.43. 5,069 shares of the company’s stock were exchanged, compared to its average volume of 31,034. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85. The firm’s fifty day moving average price is $12.74 and its 200-day moving average price is $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 issued a $0.22 dividend. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

A number of hedge funds have recently modified their holdings of ECF. Advisors Asset Management Inc. grew its holdings in Ellsworth Growth and Income Fund by 72.9% in the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock valued at $4,581,000 after buying an additional 166,043 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 42.0% during the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock worth $4,525,000 after buying an additional 115,441 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at about $1,076,000. Evolve Private Wealth LLC bought a new stake in shares of Ellsworth Growth and Income Fund in the fourth quarter valued at about $811,000. Finally, Saba Capital Management L.P. grew its stake in shares of Ellsworth Growth and Income Fund by 2.8% in the fourth 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 in the last quarter. 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 (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.