Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock: Insider Saba Capital Management, L.P. Buys 5,975 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 5,975 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were purchased at an average price of $11.87 per share, with a total value of $70,923.25. Following the transaction, the insider owned 1,802,498 shares in the company, valued at $21,395,651.26. The trade was a 0.33% 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 more than 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 stock was purchased at an average price of $11.75 per share, with a total value 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 purchased at an average price of $11.43 per share, for a total transaction of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. purchased 2,600 shares of Ellsworth Growth and Income Fund stock. The shares were purchased 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. purchased 1,830 shares of Ellsworth Growth and Income Fund stock. The shares were purchased 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 shares were purchased at an average cost 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 stock was purchased at an average price of $11.65 per share, with a total value 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 stock was purchased at an average price of $11.62 per share, with a total value of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. acquired 56,083 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $11.74 per share, for a total transaction of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. acquired 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.03 per share, for a total transaction of $175,638.00.

Ellsworth Growth and Income Fund Trading Down 1.4%

NYSEAMERICAN ECF opened at $11.72 on Friday. The business’s 50 day moving average is $12.05 and its two-hundred day moving average is $12.29. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $10.70 and a 12-month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.5%. 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ECF. Blue Bell Private Wealth Management LLC boosted its position in shares of Ellsworth Growth and Income Fund by 19.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 285,041 shares of the investment management company’s stock worth $3,341,000 after purchasing an additional 45,897 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth $154,000. Ruggaard & Associates LLC acquired a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth $248,000. Capstone Investment Advisors LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at about $1,076,000. Finally, Evolve Private Wealth LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at about $875,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.