Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $61,250.00 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average cost of $12.25 per share, with a total value of $61,250.00. Following the acquisition, the insider owned 1,621,662 shares of the company’s stock, valued at approximately $19,865,359.50. The trade was a 0.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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, September 4th, Saba Capital Management, L.P. purchased 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.36 per share, for a total transaction of $84,048.00.
• On Friday, August 28th, Saba Capital Management, L.P. bought 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.47 per share, for a total transaction of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. bought 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.49 per share, for a total transaction of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.53 per share, with a total value of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

Shares of NYSEAMERICAN ECF opened at $12.41 on Friday. The company has a 50 day simple moving average of $12.53 and a 200-day simple moving average of $12.40. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $10.70 and a 1 year high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

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

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its stake in shares of 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 acquiring an additional 166,043 shares during the period. Pathstone Holdings LLC boosted its position in shares of Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock worth $4,525,000 after purchasing an additional 115,441 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $1,076,000. Evolve Private Wealth LLC acquired a new stake in Ellsworth Growth and Income Fund in the 4th quarter valued at approximately $811,000. Finally, Saba Capital Management L.P. increased its holdings in 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 purchasing an additional 45,368 shares during the last quarter. 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.