Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Sells $92,267.00 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 7,532 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $12.25, for a total transaction of $92,267.00. Following the completion of the transaction, the insider directly owned 1,624,936 shares of the company’s stock, valued at approximately $19,905,466. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large 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, February 18th, Saba Capital Management, L.P. sold 14,591 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.16, for a total transaction of $177,426.56.
• On Tuesday, February 17th, Saba Capital Management, L.P. sold 6,072 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.20, for a total value of $74,078.40.
• On Wednesday, February 11th, Saba Capital Management, L.P. sold 14,110 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $12.24, for a total value of $172,706.40.
• On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $11.95, for a total value of $313,305.10.
• On Thursday, February 5th, Saba Capital Management, L.P. sold 7,824 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.02, for a total value of $94,044.48.

Ellsworth Growth and Income Fund Stock Down 0.9%

NYSE:ECF opened at $12.02 on Friday. The business’s 50-day moving average price is $12.07 and its two-hundred day moving average price is $11.76. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $8.15 and a twelve month high of $12.65.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.76 annualized dividend and a yield of 6.3%.

Institutional Trading of Ellsworth Growth and Income Fund

A number of hedge funds have recently made changes to their positions in ECF. Advisors Asset Management Inc. increased its stake in Ellsworth Growth and Income Fund by 72.9% in the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the company’s stock valued at $4,581,000 after acquiring an additional 166,043 shares during the last quarter. Pathstone Holdings LLC increased its position 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 company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Ellsworth Growth and Income Fund by 190.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after buying an additional 89,456 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in Ellsworth Growth and Income Fund in the fourth quarter worth approximately $811,000. Finally, Saba Capital Management L.P. grew 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 company’s stock valued at $19,546,000 after acquiring an additional 45,368 shares during the last quarter. 35.88% of the stock is owned by institutional investors.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.