Capstone Investment Advisors LLC Raises Stake in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)

Capstone Investment Advisors LLC grew its holdings in shares of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) by 179.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,774 shares of the company’s stock after acquiring an additional 51,262 shares during the quarter. Capstone Investment Advisors LLC owned 0.58% of Ellsworth Growth and Income Fund worth $773,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Sanctuary Advisors LLC raised its position in Ellsworth Growth and Income Fund by 7.3% in the 4th quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock worth $698,000 after purchasing an additional 4,715 shares during the period. Raymond James Financial Inc. bought a new position in shares of Ellsworth Growth and Income Fund during the fourth quarter valued at about $881,000. Blue Bell Private Wealth Management LLC increased its holdings in shares of 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 buying an additional 10,574 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 61.4% in the 4th quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company’s stock valued at $3,575,000 after acquiring an additional 140,392 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in Ellsworth Growth and Income Fund by 161.5% during the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company’s stock valued at $3,084,000 after acquiring an additional 196,567 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Ellsworth Growth and Income Fund Stock Performance

ECF opened at $9.20 on Tuesday. The stock’s 50 day simple moving average is $9.06 and its 200 day simple moving average is $9.51. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $7.85 and a 1 year high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Monday, March 17th.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. purchased 11,276 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $8.37 per share, with a total value of $94,380.12. Following the transaction, the insider now directly owns 1,545,610 shares of the company’s stock, valued at approximately $12,936,755.70. This represents a 0.73 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 119,549 shares of company stock valued at $1,060,249 over the last three months. 0.54% of the stock is owned by company insiders.

Ellsworth Growth and Income Fund Company Profile

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.