Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Buys 22,447 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. bought 22,447 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average price of $9.01 per share, for a total transaction of $202,247.47. Following the completion of the acquisition, the insider now directly owns 1,598,038 shares of the company’s stock, valued at $14,398,322.38. The trade was a 1.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more 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 Monday, April 28th, Saba Capital Management, L.P. purchased 600 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $8.97 per share, for a total transaction of $5,382.00.
• On Monday, April 21st, Saba Capital Management, L.P. acquired 3,400 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $8.58 per share, with a total value of $29,172.00.
• On Monday, April 14th, Saba Capital Management, L.P. bought 14,065 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $8.64 per share, for a total transaction of $121,521.60.
• On Tuesday, April 8th, Saba Capital Management, L.P. purchased 11,276 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $8.37 per share, with a total value of $94,380.12.
• On Thursday, April 3rd, Saba Capital Management, L.P. bought 33,476 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $8.88 per share, for a total transaction of $297,266.88.
• On Tuesday, April 1st, Saba Capital Management, L.P. bought 34,285 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $9.05 per share, with a total value of $310,279.25.

Ellsworth Growth and Income Fund Stock Performance

Ellsworth Growth and Income Fund stock opened at $9.10 on Friday. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $7.69 and a 52-week high of $10.14. The stock’s 50 day moving average price is $9.09 and its two-hundred day moving average price is $9.50.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its holdings in shares of Ellsworth Growth and Income Fund by 7.3% during the fourth quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock valued at $698,000 after purchasing an additional 4,715 shares during the period. Guggenheim Capital LLC raised its stake in Ellsworth Growth and Income Fund by 5.5% during the 4th quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock worth $1,545,000 after buying an additional 8,245 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Ellsworth Growth and Income Fund by 8.3% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company’s stock worth $1,340,000 after acquiring an additional 10,574 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in Ellsworth Growth and Income Fund in the fourth quarter valued at approximately $147,000. Finally, Waverly Advisors LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the fourth quarter valued at approximately $430,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.