Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $84,048.00 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 6,800 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average price of $12.36 per share, with a total value of $84,048.00. Following the purchase, the insider owned 1,628,462 shares of the company’s stock, valued at approximately $20,127,790.32. This represents a 0.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 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, September 3rd, Saba Capital Management, L.P. bought 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.25 per share, for a total transaction 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 stock was acquired 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. purchased 3,900 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.49 per share, with a total value of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was 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. bought 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

ECF stock opened at $12.41 on Friday. The business has a 50 day moving average price of $12.53 and a 200 day moving average price of $12.40. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week 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. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 16th. 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%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ECF. Saba Capital Management L.P. boosted its stake in Ellsworth Growth and Income Fund by 2.8% in the fourth 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 acquiring an additional 45,368 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Ellsworth Growth and Income Fund by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company’s stock worth $11,007,000 after purchasing an additional 30,142 shares in the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 4.9% in the 4th quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock valued at $10,846,000 after purchasing an additional 43,839 shares during the last quarter. Advisors Asset Management Inc. lifted 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 valued at $4,581,000 after purchasing an additional 166,043 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in shares of Ellsworth Growth and Income Fund by 42.0% in the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.