Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 5,742 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of $12.53 per share, with a total value of $71,947.26. Following the acquisition, the insider owned 1,611,562 shares of the company’s stock, valued at $20,192,871.86. This trade represents a 0.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% 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, August 20th, Saba Capital Management, L.P. bought 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Stock Down 0.8%

NYSEAMERICAN:ECF opened at $12.42 on Tuesday. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85. The firm’s fifty day simple moving average is $12.72 and its 200-day simple moving average is $12.38.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be 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. This represents a $0.88 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its holdings 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 worth $4,581,000 after acquiring an additional 166,043 shares during the period. Pathstone Holdings LLC raised its holdings in Ellsworth Growth and Income Fund by 42.0% during the third 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 last quarter. Capstone Investment Advisors LLC acquired a new position in Ellsworth Growth and Income Fund during the second quarter worth $1,076,000. Evolve Private Wealth LLC purchased a new stake in Ellsworth Growth and Income Fund during the fourth quarter worth $811,000. Finally, Saba Capital Management L.P. boosted its position in Ellsworth Growth and Income Fund by 2.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock worth $19,546,000 after purchasing an additional 45,368 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

Ellsworth Growth and Income Fund Company Profile

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.