Saba Capital Management, L.P. Purchases 3,900 Shares of Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 3,900 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was purchased at an average price of $12.49 per share, with a total value of $48,711.00. Following the transaction, the insider owned 1,615,462 shares in the company, valued at $20,177,120.38. The trade was a 0.24% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 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 Friday, August 21st, Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. acquired 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Stock Down 0.2%

ECF traded down $0.02 during trading hours on Friday, hitting $12.45. The company’s stock had a trading volume of 5,797 shares, compared to its average volume of 30,678. The company has a 50-day simple moving average of $12.68 and a 200 day simple moving average of $12.39. 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. Investors of record on Wednesday, September 16th will be paid a dividend of $0.22 per share. 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 dividend yield of 7.1%. The ex-dividend date is Wednesday, September 16th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Large investors have recently bought and sold shares of the stock. Readystate Asset Management LP bought a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth about $154,000. Ruggaard & Associates LLC bought a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $248,000. Capstone Investment Advisors LLC bought a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $1,076,000. Evolve Private Wealth LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at $875,000. Finally, Beckerman Institutional LLC acquired a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at $169,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund (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.