Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 6,800 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 6,800 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average price of $12.36 per share, with a total value of $84,048.00. Following the acquisition, the insider owned 1,628,462 shares of the company’s stock, valued at $20,127,790.32. This represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 3rd, Saba Capital Management, L.P. purchased 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $12.25 per share, with a total value of $61,250.00.
• On Friday, August 28th, Saba Capital Management, L.P. purchased 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.47 per share, for a total transaction of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. acquired 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.49 per share, with a total value of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Trading Up 0.9%

NYSEAMERICAN:ECF traded up $0.12 during mid-day trading on Tuesday, hitting $12.44. 5,519 shares of the company’s stock were exchanged, compared to its average volume of 30,605. The business has a fifty day moving average price of $12.56 and a 200 day moving average price of $12.39. Ellsworth Growth and Income Fund Ltd. has a one year low of $10.70 and a one year high of $13.85.

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 given a dividend of $0.22 per share. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 7.1%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in Ellsworth Growth and Income Fund by 72.9% in the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after buying an additional 166,043 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after buying an additional 115,441 shares during the period. Capstone Investment Advisors LLC purchased a new position in Ellsworth Growth and Income Fund in the second quarter worth about $1,076,000. Evolve Private Wealth LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the 4th quarter valued at about $811,000. Finally, Saba Capital Management L.P. increased its position in shares of Ellsworth Growth and Income Fund by 2.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after purchasing an additional 45,368 shares during the last quarter. 35.88% of the stock is owned by institutional investors.

About Ellsworth Growth and Income Fund

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.