Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 5,975 Shares of Company Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 5,975 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Thursday, October 29th. The shares were purchased at an average cost of $11.87 per share, for a total transaction of $70,923.25. Following the purchase, the insider directly owned 1,802,498 shares in the company, valued at $21,395,651.26. The trade was a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,050 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.75 per share, for a total transaction of $12,337.50.
• On Tuesday, October 27th, Saba Capital Management, L.P. bought 400 shares of Ellsworth Growth and Income Fund stock. The stock was purchased 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 shares were bought at an average cost of $11.43 per share, with a total value of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. acquired 2,600 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $11.58 per share, for a total transaction of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. acquired 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was 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. purchased 17,079 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $11.47 per share, with a total value of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. acquired 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.65 per share, for a total transaction of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. acquired 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.62 per share, for a total transaction of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.74 per share, with a total value of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. bought 14,600 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $12.03 per share, for a total transaction of $175,638.00.

Ellsworth Growth and Income Fund Stock Performance

NYSEAMERICAN:ECF traded down $0.17 during mid-day trading on Friday, reaching $11.72. The stock had a trading volume of 38,921 shares, compared to its average volume of 32,451. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $10.70 and a 12 month high of $13.85. The stock has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $12.29.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a $0.22 dividend. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 7.5%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC acquired a new position in shares of Ellsworth Growth and Income Fund during the second quarter worth approximately $1,076,000. Evolve Private Wealth LLC purchased a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at about $875,000. Blue Bell Private Wealth Management LLC lifted its holdings 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 worth $3,341,000 after acquiring an additional 45,897 shares during the period. Readystate Asset Management LP purchased a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth about $154,000. Finally, Ruggaard & Associates LLC bought a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at approximately $248,000. Institutional investors and hedge funds 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.