Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $48,711.00 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 3,900 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average cost of $12.49 per share, with a total value of $48,711.00. Following the acquisition, the insider directly owned 1,615,462 shares in the company, valued at approximately $20,177,120.38. The trade was a 0.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. acquired 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Price Performance

Shares of ECF opened at $12.43 on Monday. The company’s 50-day moving average is $12.66 and its 200-day moving average is $12.39. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.1%. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP bought a new position in shares of Ellsworth Growth and Income Fund during the second quarter worth approximately $154,000. Ruggaard & Associates LLC acquired a new position in Ellsworth Growth and Income Fund in the 2nd quarter valued at $248,000. Capstone Investment Advisors LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth $1,076,000. Evolve Private Wealth LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the second quarter worth $875,000. Finally, Beckerman Institutional LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the second quarter worth $169,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.