Insider Buying: Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Purchases $136,120.05 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 11,565 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were bought at an average price of $11.77 per share, for a total transaction of $136,120.05. Following the completion of the acquisition, the insider owned 1,814,063 shares in the company, valued at approximately $21,351,521.51. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Thursday, October 29th, Saba Capital Management, L.P. purchased 5,975 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $11.87 per share, with a total value of $70,923.25.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,050 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.75 per share, with a total value of $12,337.50.
• On Tuesday, October 27th, Saba Capital Management, L.P. bought 400 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $11.63 per share, for a total transaction of $4,652.00.
• On Monday, October 26th, Saba Capital Management, L.P. purchased 2,618 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.43 per share, for a total transaction of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 2,600 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.58 per share, for a total transaction of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 1,830 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $11.39 per share, with a total value of $20,843.70.
• On Monday, October 19th, Saba Capital Management, L.P. bought 17,079 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.47 per share, for a total transaction of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. bought 16,347 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.65 per share, with a total value of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. bought 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.62 per share, with a total value of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. purchased 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.74 per share, for a total transaction of $658,414.42.

Ellsworth Growth and Income Fund Price Performance

Shares of NYSEAMERICAN ECF opened at $11.71 on Thursday. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $10.70 and a 52-week high of $13.85. The business has a fifty day moving average of $12.00 and a two-hundred day moving average of $12.28.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.22 per share. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 7.5%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several large investors have recently modified their holdings of ECF. Capstone Investment Advisors LLC bought a new position in Ellsworth Growth and Income Fund in the 2nd quarter valued at about $1,076,000. Evolve Private Wealth LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at $875,000. Blue Bell Private Wealth Management LLC grew its position in Ellsworth Growth and Income Fund by 19.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 285,041 shares of the investment management company’s stock valued at $3,341,000 after buying an additional 45,897 shares during the period. Uhlmann Price Securities LLC grew its position in shares of Ellsworth Growth and Income Fund by 3.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 76,389 shares of the investment management company’s stock valued at $895,000 after acquiring an additional 2,501 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in Ellsworth Growth and Income Fund in the second quarter worth $154,000. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund, Inc (NYSE American: ECF) is a diversified closed-end management investment company. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities.

ECF invests primarily in convertible securities, including convertible bonds and convertible preferred stocks, as well as common stocks. Convertible securities may offer income while also providing the potential to participate in the equity appreciation of the underlying companies.