Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Purchases 7,747 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 7,747 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were bought at an average cost of $11.34 per share, with a total value of $87,850.98. Following the completion of the acquisition, the insider directly owned 1,821,810 shares in the company, valued at $20,659,325.40. The trade was a 0.43% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Friday, October 30th, Saba Capital Management, L.P. acquired 11,565 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $11.77 per share, with a total value of $136,120.05.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 5,975 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $11.87 per share, with a total value of $70,923.25.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,050 shares of Ellsworth Growth and Income Fund stock. The shares were purchased 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. acquired 400 shares of Ellsworth Growth and Income Fund stock. The shares were 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. acquired 2,618 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 2,600 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $11.58 per share, with a total value of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was 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. bought 17,079 shares of Ellsworth Growth and Income Fund stock. The stock was 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. purchased 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were acquired 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. purchased 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $11.62 per share, for a total transaction of $115,839.78.

Ellsworth Growth and Income Fund Trading Up 0.6%

Shares of ECF stock traded up $0.07 during trading hours on Friday, hitting $11.37. 20,261 shares of the company’s stock were exchanged, compared to its average volume of 37,990. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $10.70 and a 12-month high of $13.85. The business’s 50 day simple moving average is $11.95 and its 200-day simple moving average is $12.27.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.7%. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Large investors have recently bought and sold shares of the stock. Uhlmann Price Securities LLC lifted its position in Ellsworth Growth and Income Fund by 3.4% in the third quarter. Uhlmann Price Securities LLC now owns 76,389 shares of the investment management company’s stock valued at $895,000 after purchasing an additional 2,501 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in 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 valued at $3,341,000 after buying an additional 45,897 shares during the period. Readystate Asset Management LP purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter valued at $154,000. Ruggaard & Associates LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter worth $248,000. Finally, Capstone Investment Advisors LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter worth $1,076,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.